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Wednesday, August 10, 2022 1:30:16 AM EDT

Factory Orders Updated 03-Aug-22 10:35AM ET

Factory orders for manufactured goods increased 2.0% m/m in June ( 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.
Factory Orders2.0%1.8%0.7%1.8%0.3%
Less Defense1.3%1.7%0.6%2.1%0.0%
Durable Goods2.0%0.8%0.4%0.7%-0.7%
Nondurable Goods2.0%2.7%0.9%2.9%1.3%
Unfilled Factory Orders0.7%0.3%0.5%0.5%0.7%
Factory Shipments1.1%2.1%0.6%2.2%0.8%
Factory Inventories0.4%1.3%0.8%1.4%0.7%
Inventory/Shipment Ratio1.451.461.471.471.48