New orders for manufactured goods in July, up two of the last three months, increased $10.5 billion or 2.4% to $453.2 billion, the U.S. Census Bureau reported. This followed a 0.4% June decrease. Excluding transportation, new orders increased 0.9%.
Shipments, up two consecutive months, increased $7.1 billion or 1.6% to $453.2 billion. This followed a 0.6% June increase.
Unfilled orders, up fifteen of the last sixteen months, increased $6.9 billion or 0.8% to $870.4 billion. This followed a 0.3% June increase. The unfilled orders-to-shipments ratio was 6.02, down from 6.05 in June.
Inventories, up twenty one of the last twenty two months, increased $2.9 billion or 0.5% to $598.0 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.4% June increase. The inventories-to-shipments ratio was 1.32, down from 1.33 in June.