The US Census Bureau reported Wednesday that new orders for durable goods feel in June, while durable goods shipments rose again.
New orders were down $4 billion or 2.1 percent to $192 billion in June, following a 1.9 percent May increase. Transportation equipment led the decline, dropping $4.2 billion or 8.5 percent in June. New orders for fabricated metal products were up 2.1 percent in the May to June period, and were up 7.1 percent year-to-date. Shipments of fabricated metal products were up as well, but a slower 0.8 percent from May to June, and 5.5 percent year-to-date.
Overall, shipments of manufactured durable goods rose in June, reflecting the sixth gain in the last seven months. Shipments were $196 billion in June, an increase of $1 billion or 0.5 percent compared to May. Machinery had the largest increase--0.7 billion or 2.6 percent.
Unfilled orders rose 0.2 percent or $2.1 billion in June, and inventories were up $1.6 billion or 0.4 percent.