Manufacturing orders, shipments up in June

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New orders for manufactured goods increased 0.4 percent in June over May to $349 billion, the U.S. Census Bureau reported Aug. 5. The rise, which is the fourth in the last five months, followed a 1.1 percent increase in May.

A 13.2 percent decline in new orders for transportation equipment is a major factor in a 2.2 percent drop in new orders for durable goods in June. That decline was offset, however, by a 2.7 percent increase in new orders for nondurable goods. Excluding transportation equipment, new orders for manufactured goods rose 2.3 percent.

After 10 consecutive monthly decreases, shipments rose 1.4 percent to $358.3 billion. Unfilled orders dipped 0.9 percent to $740.2 billion, marking the longest streak of consecutive monthly decreases since November 2001 to July 2002. Inventories declined 0.8 percent to $508.3 billion. The 10 consecutive months of inventory declines was the longest streak since March 2003 to January 2004.