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US factory orders for manufactured goods increased 1.2% m/m in August ahead of consensus 1.0% following an upwardly revised 0.7% increase from 0.4% in July. Shipments of manufactured goods were up just 0.1% after increasing 1.5% in July.

US manufacturing Workers

The pace of order growth for manufactured goods, particularly durable goods, improved noticeably in August indicating an improved growth outlook after the dampening in growth momentum caused by the Delta variant.

United States Factory Orders

Biggest increases were seen in

  • Orders for transportation equipment (5.4%),
  • Nondefense aircraft and parts (77.9%)
  • Fabricated metal products (2%).

Biggest decreases were seen in

  • Orders for machinery (-1%).
  • Excluding transportation, factory orders edged up 0.5%.

United States Factory Orders Ex Transportation

  • New orders for durable goods jumped 1.8% m/m in August after increasing 0.5% in July.
  • New orders for nondurable goods increased 0.6% m/m in August after increasing 0.9% in July.
  • Non defense capital goods orders, excluding aircraft,  a proxy for business spending jumped 0.6% m/m in August after increasing 0.3% in July.
  • The inventory-to-shipments ratio held steady at 1.47.

Source:U.S. Census Bureau

From The TradingCommunity News Desk

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