New orders for manufactured goods in May — up five of the past six months — increased $1.6 billion, or 0.3%, to $578.0 billion, the U.S. Census Bureau reported July 5. The news follows a 0.3% April increase.
Shipments — which increased following three consecutive monthly decreases — increased $1.6 billion, or 0.3%, to $572.6 billion. That follows a 0.6% decrease in April, according to the Census Bureau.
After being up five of the last six months, unfilled orders increased $10.5 billion, or 0.8%, to $1,301.9 billion, following a 0.8% April increase.
Inventories, down three of the last four months, decreased $1.7 billion, or 0.2%, to $853.8 billion. This followed a 0.3% April increase. The inventories-to-shipments ratio was 1.49, down from 1.50 in April, according to Census Bureau data. Machinery, up 31 consecutive months, led the increase — $0.6 billion, or 0.6%, to $94.5 billion.
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