July Durable Goods Much Higher

New Orders
New orders for manufactured durable goods in July increased $2.9 billion or 1.3 percent (consensus was 0.1%) to $219.3 billion, the U.S. Census Bureau announced today. This was the third consecutive monthly increase and followed a 1.3 percent June increase. Excluding transportation, new orders increased 0.7 percent. Excluding defense, new orders increased 2.8 percent.

Shipments
Shipments of manufactured durable goods in July, up three of the last four months, increased $5.3 billion or 2.5 percent to $218.3 billion. This followed a 0.9 percent June increase.

Unfilled Orders
Unfilled orders for manufactured durable goods in July, up twenty-nine of the last thirty months, increased $6.6 billion or 0.8 percent to $824.4 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.9 percent June increase.

Inventories
Inventories of manufactured durable goods in July, up twelve of the last thirteen months, increased $2.7 billion or 0.8 percent to $335.8 billion. This was also at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.8 percent June increase.

Capital Goods Industries
Nondefense
Nondefense new orders for capital goods in July increased $4.5 billion or 6.3 percent to $76.3 billion.

Defense
Defense new orders for capital goods in July decreased $2.9 billion or 25.7 percent to $8.4 billion.