Advance: U.S. Durable Goods Orders Plunge in June - Modern Distribution Management

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Advance: U.S. Durable Goods Orders Plunge in June

June's total decreased substantially after four consecutive monthly increases.
Durable Goods - US Census
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U.S. monthly manufactured durables goods orders decreased 6.6% in June from May, according to an advance report from the U.S. Census Bureau.

Released July 25, the report showed that June orders decreased to a total of $264.5 billion. This follows four consecutive monthly increases of 0.1%, 0.2%, 0.8% and 1.2% in the previous four quarters, respectively.

Year-over-year, total durable goods orders were also down 6.6%.

The June decrease was driven by transportation equipment, which was down 20.5% vs. May. Excluding transportation, new orders increased 0.5%. Excluding defense, June’s new orders decreased 7.0% vs. May.

Capital goods orders decreased 22.4% month-to-month.

Shipments of manufactured durable goods increased 1.2% in June vs May, following a 0.3% decrease. Transportation led the gain, up 3.8%.

June’s unfilled orders for durable goods — up 46 consecutive months — decreased 1.3%, following a 0.2% gain in May. Transportation equipment led the decrease with a 2.1% drop.

June’s inventories of durable goods — down following two consecutive monthly increases — decreased 0.1% or are virtually unchanged, following May’s 0.3% increase. Transportation led the decrease with a 0.1% dip.

Durable Good News Orders 2023-2024
Click chart for larger version

Here is how monthly new orders and shipment of different durable goods product categories fared in June, seasonally adjusted, according to Census Bureau‘s advance data:

Primary Metals

  • Shipments: -0.2%
  • New Orders: -0.1%

Fabricated Metal Products

  • Shipments: +0.2%
  • New Orders: +0.2%

Machinery

  • Shipments: +0.2%
  • New Orders: +1.6%

Computers and Electronic Products

  • Shipments: -0.1%
  • New Orders: +0.8%

Electrical Equipment, Appliances and Components

  • Shipments: -0.2%
  • New Orders: +1.3%

Transportation Equipment

  • Shipments: +3.8%
  • New Orders: -20.5%

All Other Durable Goods

  • Shipments: 0.0%
  • New Orders: 0.0%

Capital Goods

  • Shipments: +3.9%
  • New Orders: -18.4%

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