US durable goods orders were unchanged month-over-month in July ahead of a consensus +0.6%, following an upwardly revised 2.2 percent rise in June. This was the first-time durable goods have not risen in four consecutive months. Excluding transportation, new orders rose 0.3 percent and excluding defense, new orders rose 1.2 percent. Orders for non-defense capital goods excluding aircraft, a proxy for investment in equipment, increased 0.4 percent, easing from a 0.9 percent advance in June.
July 2022 US Durable Orders Highlights
- US Durable Goods Orders unchanged in July of 2022, expectations of a 0.6% increase and following an upwardly revised 2.2 percent rise in June.
- Excluding transportation, new orders went up 0.3 percent
- Excluding defense, new orders climbed 1.2 percent.
- Orders for non-defense capital goods excluding aircraft, a proxy for investment in equipment, increased 0.4 percent, easing from a 0.9 percent advance in June.
- Unfilled orders +0.7% vs +0.7% prior, up 23 consecutive months
- Shipments +0.4% vs +0.3% prior
Unfilled Orders
Unfilled orders for manufactured durable goods in July, up twenty-three consecutive months, increased
$7.9 billion or 0.7 percent to $1,126.5 billion. This followed a 0.8 percent June increase. Transportation
equipment, up seventeen of the last eighteen months, led the increase, $6.7 billion or 1.0 percent to
$655.2 billion.
Inventories
Inventories of manufactured durable goods in July, up eighteen consecutive months, increased $1.1 billion or 0.2 percent to $486.2 billion. This followed a 0.4 percent June increase. Machinery, up twenty-one consecutive months, led the increase, $0.7 billion or 0.8 percent to $84.0 billion.
Source: US Census Bureau
From The TradersCommunity NewsDesk