Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods slipped down 1.4 percent (nonannualized) in May, following a downwardly revised 1.0 percent increase in April. New orders excluding transportation fell 0.6 percent during the month, after falling 0.7 percent in April, but are still up 15.3 percent on a year-over-year basis. Losses in May were felt across both durable and nondurable sectors, falling 0.6 and 2.1 percent, respectively. However, orders for nondefense capital goods excluding aircraft increased for the fourth consecutive month, rising 1.4 percent in May, and are now trending at a relatively strong 3-month growth rate of 17.7 percent. Manufacturers’ shipments fell 1.3 in May, more than giving up a 0.6 percent gain in April. Interestingly, inventories fell 0.4 percent in May, its first decrease since last December.