Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased 2.8 percent (nonannualized) in July. This month’s increase boosted the near term trend (three month annualized growth rate) to 11.5 percent. Year-over-year growth rates have continued to gradually slow from 6.3 percent in the first quarter of 2012 to a current reading of 1.9 percent. New orders excluding transportation increased 0.7 percent while durable and nondurable new orders rose 4.1 percent and 1.5 percent, respectively. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, decreased 4.0 percent for the month while its three-month annualized growth rate remains negative at −16.7 percent. Shipments of manufactured goods rose 2.0 percent for the month, with a three-month annualized growth rate of 4.4 percent. Unfilled orders increased 0.8 percent in July. Inventories rose 0.4 percent pulling the inventory-to-shipments ratio down to 1.27 from 1.29.