Durable goods orders dropped 1.1% in May

New orders for manufactured durable goods in May decreased $2.2 billion (1.1 percent) to $192.0 billion, the U.S. Census Bureau announced on June 24. This decrease followed five consecutive monthly increases including a 3.0 percent April increase. Excluding transportation, new orders increased 0.9 percent. Excluding defense, new orders decreased 1.1 percent.

Transportation equipment, down three of the last four months, had the largest decrease, $3.5 billion (6.9 percent) to $46.9 billion. This was led by non-defense aircraft and parts which decreased $3.0 billion.

Shipments
Shipments of manufactured durable goods in May, down following two consecutive monthly increases, decreased $800 million (0.4 percent) to $196.0 billion. This followed a 1.8 percent) April increase.

Transportation equipment, down following two consecutive monthly increases, had the largest decrease, $1.3 billion (2.8 percent) to $47.1 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in May, up four of the last five months, increased $1.4 billion (0.2 percent) to $802.8 billion. This followed a 0.4 percent April increase.

Machinery, up six of the last seven months, had the largest increase, $1.5 billion (1.7 percent) to $93.1 billion.

Inventories
Inventories of manufactured durable goods in May, up five consecutive months, increased $2.5 billion (0.8 percent) to $304.4 billion. This followed a 0.8 percent April increase.

Primary metals, up seven consecutive months, had the largest increase, $900 million (3.0 percent) to $30.7 billion.

Capital Goods
Non-defense new orders for capital goods in May decreased $1.8 billion (2.8 percent) to $63.7 billion.

Shipments increased $200 million (0.3 percent) to $62.4 billion. Unfilled orders increased $1.3 billion (0.3 percent) to $484.7 billion. Inventories increased $900 million (0.7 percent) to $126.2 billion.

Defense new orders for capital goods in May decreased $300 million (3.0 percent) to $10.3 billion.

Shipments decreased $600 million (5.7 percent) to $10.0 billion. Unfilled orders increased $300 million (0.2 percent) to $139.8 billion. Inventories decreased $100 million (0.7 percent) to $17.9 billion.

Revised April Data
Revised seasonally adjusted April figures for all manufacturing industries were: new orders, $420.2 billion (revised from $420.1 billion); shipments, $422.8 billion (revised from $422.3 billion); unfilled orders, $801.4 billion (revised from $801.2 billion); and total inventories, $522.3 billion (revised from $521.7 billion).