New orders for manufactured goods in May, up two of the last three months, increased $3.5 billion or 0.8% to $445.3 billion, the U.S. Census Bureau reported. This followed a 0.9% April decrease. Excluding transportation, new orders increased 0.2%.
Shipments, up eight of the last nine months, increased $0.4 billion or 0.1% to $443.9 billion. This followed a 0.4% April decrease.
Unfilled orders, up thirteen of the last fourteen months, increased $7.7 billion or 0.9% to $860.9 billion. This followed a 0.6% April increase. The unfilled orders-to-shipments ratio was 6.12, up from 6.11 in April.
Inventories, up nineteen of the last twenty months, increased $4.5 billion or 0.8% to $593.0 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.5% April increase. The inventories-to-shipments ratio was 1.34, up from 1.33 in April.