The US Census Bureau reported that new orders for manufactured goods dropped by 0.1pc to $257.2bn in July on a monthly basis.
The main reason for the decrease was that new orders for transportation equipment fell by 2.2pc to $75.3bn in July from June this year. New order for primary metals increased by 2.7pc to $24.6bn in July from $24bn in June. Fabricated metal products saw a 0.3pc rise in new orders in July to $35.5bn from the previous month.
Shipments of manufactured durable goods rose by 2.2pc to $257.8bn in July from the previous month with transportation equipment leading the increase by 4.6pc to $75.9bn in July from June this year. Shipment of primary metals increased by 3.3pc to $23.9bn in July and was up by 2.5pc for the fabricated metal products to $34.6bn on a monthly basis.
Unfilled orders for manufactured durable goods increased by 0.3pc to $1.2tn in July on a monthly basis. This increase is mainly attributed to unfilled orders of machinery with a 2.1pc increase to $109.2bn. unfilled orders for primary metals grew by 1.7pc to $40.9bn in July and for fabricated metal products, the unfilled orders rose by 0.8pc to $100.9bn from June this year.
US Census Bureau reported that the inventories of manufactured durable goods grew by 0.6pc to $453.6bn in July from June. This increase was because of an increase in primary metals inventory levels, which increased by 1.9pc to $40bn. Inventories for fabricated metal products rose by 1pc to $58.2bn in July from the previous month.
Under capital goods, the non-defense new orders declined by 8pc to $80.6bn in July from the previous month. Shipment of capital goods rose by 0.4pc to $79.4bn and unfilled orders rose by 0.2pc to $742.2bn in July from June this year. Inventory levels for capital goods increased by 0.2pc to $200.1bn in July from June.
New orders for capital goods rose by 20.5pc to $12.5bn in June while shipments saw a 5.8pc rise to $12.6bn against June this year. Unfilled orders dropped by 0.1pc to $188.7bn and inventories rose by 1.2pc to $20.9bn in July from the previous month, US Census Bureau stated.