Updated: 03-Aug-17 10:58 ET
| June Factory Orders |
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| Updated: 03-Aug-17 10:58 ET |
Highlights
- Factory orders increased 3.0% in June (Briefing.com consensus 2.9%) on the heels of an upwardly revised 0.3% decline (from -0.8%) for May. The headline increase was driven by a 19.0% increase in transportation equipment orders.
- Excluding transportation, orders declined 0.2% following a 0.1% decline in May.
Key Factors
- New orders for manufactured durable goods increased 6.4% after being unchanged in May
- New orders for manufactured nondurable goods declined 0.3% following a 0.6% decline in May
- Total shipments decreased 0.2% following a 0.3% May increase
- The inventory-to-shipments ratio increased to 1.38 from 1.37
Big Picture
- The key takeaway from the report is that order activity outside the transportation sector was relatively weak in June. Nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- were unchanged in June.
| Category | JUN | MAY | APR | MAR | FEB |
| Factory Orders | 3.0% | -0.3% | -0.3% | 1.0% | 0.8% |
| Less Defense | 3.0% | -0.1% | -0.3% | 0.4% | 1.1% |
| Durable Goods | 6.4% | 0.0% | -0.8% | 2.4% | 1.4% |
| Nondurable Goods | -0.3% | -0.6% | 0.2% | -0.3% | 0.3% |
| Unfilled Factory Orders | 1.3% | -0.1% | 0.2% | 0.3% | -0.2% |
| Factory Shipments | -0.2% | 0.3% | 0.0% | -0.2% | 0.3% |
| Factory Inventories | 0.2% | -0.2% | 0.0% | 0.2% | 0.2% |
| Inventory/Shipment Ratio | 1.38 | 1.37 | 1.38 | 1.38 | 1.37 |
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