Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased 2.1 percent (nonannualized) in May, following an increase of 1.3 percent in April. Year-over-year growth rates for new orders are up 3.7 percent. Excluding transportation, new orders rose 0.6 percent for the month while new orders of durable goods and nondurable goods rose 3.7 percent and 0.6 percent, respectively. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, increased 1.5 percent. Shipments increased 1.0 percent in May while unfilled orders and inventories of manufactured goods also rose 0.8 percent and 0.1 percent, respectively. The unfilled orders-to-shipments ratio now rests at 6.21, roughly where it has been since late 2009, but still well above the pre-crisis average of 4.3. The inventory-to-shipments ratio edged down to 1.30, again roughly where it has been since late 2009.