New orders for manufactured goods in July, up 14 of the last 15 months, increased $1.9 billion or 0/4% to $508.1 billion, the U.S. Census Bureau reported this week. This followed a 1.5% June increase.

Shipments, also up 14 of the last 15 months, increased $7.8 billion or 1.6% to $508.5 billion. This followed a 1.9% June increase. Unfilled orders, up six consecutive months, increased $4.1 billion or 0.3% to $1,225.6 billion. This followed a 0.8% June increase. The unfilled orders-to-shipments ratio was 6.79, down from 6.90 in June. Inventories, up thirteen of the last fourteen months, increased $3.7 billion or 0.5% to $744.4 billion. This followed a 1% June increase. The inventories-to-shipments ratio was 1.46, down from 1.48 in June.

New Orders

New orders for manufactured durable goods in July, down following two consecutive monthly increases, decreased $0.3 billion or 0.1% to $257.4 billion, unchanged from the previously published decrease. This followed a 0.8% June increase. Transportation equipment, also down following two consecutive monthly increases, drove the decrease, $1.7 billion or 2.1% to $75.3 billion. New orders for manufactured nondurable goods increased $2.2 billion or 0.9% to $250.7 billion.

Shipments

Shipments of manufactured durable goods in July, up four of the last five months, increased $5.6 billion or 2.2% to $257.8 billion, unchanged from the previously published increase. This followed a 1.6% June increase. Transportation equipment, up two consecutive months, led the increase, $3.4 billion or 4.6% to $75.9 billion. Shipments of manufactured nondurable goods, up fourteen of the last fifteen months, increased $2.2 billion or 0.9% to $250.7 billion. This followed a 2.2% June increase. Chemical products, also up fourteen of the last fifteen months, led the increase, $0.9 billion or 1.3% to $65.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in July, up six consecutive months, increased $4.1 billion or 0.3% to $1,225.6 billion, unchanged from the previously published increase. This followed a 0.8% June increase. Machinery, up sixteen consecutive months, led the increase, $2.4 billion or 2.2% to $109.3 billion.

Inventories

Inventories of manufactured durable goods in July, up six consecutive months, increased $2.8 billion or 0.6% to $453.7 billion, unchanged from the previously published increase. This followed a 0.9% June increase. Primary metals, up twelve consecutive months, led the increase, $0.8 billion or 2% to $40.1 billion. Inventories of manufactured nondurable goods, up eleven of the last twelve months, increased $1 billion or 0.3% to $290.7 billion. This followed a 1.1% June increase. Petroleum and coal products, up eight of the last nine months, led the increase, $0.6 billion or 1.4% to $42.5 billion. By stage of fabrication, July materials and supplies increased 1.6% in durable goods and 0.9% in nondurable goods. Work in process increased 0.1% in durable goods and decreased 0.4% in nondurable goods. Finished goods increased 0.1% in durable goods and 0.2% in nondurable goods.