Factory orders for manufactured goods increased 2.0% m/m in June (Briefing.com consensus +0.9%) following an upwardly revised 1.8% increase (from 1.6%) in May.
Shipments of manufactured goods rose 1.1% after increasing 2.1% in May.
New orders for durable goods rose 2.0% m/m in June after increasing 0.8% in May.
New orders for nondurable goods also jumped 2.0% m/m in June after increasing 2.7% in May.
Nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- increased 0.7% in June after increasing 0.5% in May.
The inventory-to-shipments ratio dropped to 1.45 from 1.47 in May.
The key takeaway from the report is that order activity gathered pace in June for both durable and nondurable goods, providing another challenge to the notion that the U.S. economy is in recession.| JUN | MAY | APR | MAR | FEB | |
|---|---|---|---|---|---|
| Factory Orders | 2.0% | 1.8% | 0.7% | 1.8% | 0.3% |
| Less Defense | 1.3% | 1.7% | 0.6% | 2.1% | 0.0% |
| Durable Goods | 2.0% | 0.8% | 0.4% | 0.7% | -0.7% |
| Nondurable Goods | 2.0% | 2.7% | 0.9% | 2.9% | 1.3% |
| Unfilled Factory Orders | 0.7% | 0.3% | 0.5% | 0.5% | 0.7% |
| Factory Shipments | 1.1% | 2.1% | 0.6% | 2.2% | 0.8% |
| Factory Inventories | 0.4% | 1.3% | 0.8% | 1.4% | 0.7% |
| Inventory/Shipment Ratio | 1.45 | 1.46 | 1.47 | 1.47 | 1.48 |
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