FACTORY ORDERS SURGE BEATING EXPECTATIONS

Ford factory michiganAP PhotosMen work at the Ford Motor Company’s River Rouge Plant in Dearborn, Michigan, April 27, 1937.

Factory orders rose 1.1% in June, beating expectations for a 0.6% rise.

Meanwhile, June’s number was revised down to reflect a 0.6% fall, compares with an initial reading of a 0.5% fall.

Here’s the summary from the press release:

New orders for manufactured goods in June, up four of the last five months, increased $US5.7 billion or 1.1 per cent to $US503.2 billion, the U.S. Census Bureau reported today. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 per cent May decrease. Excluding transportation, new orders increased 1.1 per cent.

Shipments, up four of the last five months, increased $US2.5 billion or 0.5 per cent to $US499.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.1 per cent May decrease.

Unfilled orders,upfourteenofthelastfifteenmonths, increased $US10.4 billion or 1.0 per cent to $US1,098.5 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.7 per cent May increase. The unfilled orders-to-shipments ratio was 6.52, unchanged from May.

Inventories, up nineteen of the last twenty months, increased $US1.8 billion or 0.3 per cent to $US653.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.8 percentMayincrease. Theinventories-to-shipments ratio was 1.31, unchanged from May.

Here’s the full table:

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