Manufacturer Shipments, Inventories and Orders Advance in May
Durable goods new orders climb 2.1 percent; transportation equipment surges 6.3 percent.
Summary
New orders for manufactured goods in May, up two of the last three months, increased $3.5 billion or 0.8 percent to $445.3 billion, the U.S. Census Bureau reported today. This followed a 0.9 percent April decrease. Excluding transportation, new orders increased 0.2 percent.
Shipments, up eight of the last nine months, increased $0.4 billion or 0.1 percent to $443.9 billion. This followed a 0.4 percent April decrease.
Unfilled orders, up thirteen of the last fourteen months, increased $7.7 billion or 0.9 percent to $860.9 billion. This followed a 0.6 percent 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 percent 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 percent April increase. The inventories-to-shipments ratio was 1.34, up from 1.33 in April.
New Orders
New orders for manufactured durable goods in May, up two of the last three months, increased $4.0 billion or 2.1 percent to $196.3 billion, revised from the previously published 1.9 percent increase. This followed a 2.5 percent April decrease.
Transportation equipment, also up two of the last three months, had the largest increase, $2.9 billion or 6.3 percent to $49.9 billion. New orders for manufactured nondurable goods decreased $0.4 billion or 0.2 percent to $249.0 billion.
Shipments
Shipments of manufactured durable goods in May, up five of the last six months, increased $0.9 billion or 0.4 percent to $195.0 billion, revised from the previously published 0.3 percent increase. This followed a 1.4 percent April decrease.
Machinery, up three of the last four months, had the largest increase, $0.6 billion or 2.3 percent to $28.3 billion.
Shipments of manufactured nondurable goods, down following ten consecutive monthly increases, decreased $0.4 billion or 0.2 percent to $249.0 billion. This followed a 0.4 percent April increase.
Petroleum and coal products, down two consecutive months, drove the decrease, down $1.7 billion or 2.4 percent to $69.9 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in May, up thirteen of the last fourteen months, increased $7.7 billion or 0.9 percent to $860.9 billion, unchanged from the previously published increase. This followed a 0.6 percent April increase.
Transportation equipment, up five consecutive months, had the largest increase, $3.8 billion or 0.8 percent to $497.6 billion.
Inventories
Inventories of manufactured durable goods in May, up seventeen consecutive months, increased $4.7 billion or 1.3 percent to $356.1 billion, revised from the previously published 1.2 percent increase. This was at the highest level since the series was first published on a NAICS basis and followed a 1.2 percent April increase.
Transportation equipment, also up seventeen consecutive months, had the largest increase, $1.8 billion or 1.7 percent to $107.8 billion. Inventories of manufactured nondurable goods, down following eight consecutive monthly increases, decreased $0.2 billion or 0.1 percent to $236.9 billion. This followed a 1.8 percent April increase.
Petroleum and coal products, also down following eight consecutive monthly increases, drove the decrease, down $1.5 billion or 2.7 percent to $53.9 billion.
By stage of fabrication, May materials and supplies increased 1.0 percent in durable goods and increased slightly in nondurable goods. Work in process increased 1.8 percent in durable goods and decreased 0.2 percent in nondurable goods. Finished goods increased 1.1 percent in durable goods and decreased 0.1 percent in nondurable goods.
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