Mixed News on Factory Orders and Shipments for July
According to the National Association of Manufacturers’ (NAM) Monday Economic Report for this week, new orders for manufactured goods fell 2.1% in July with durable goods and nondurable goods orders down 5.2% and up 1.1%, respectively. Durable goods orders do flip positive (+0.5%) when excluding transportation equipment. Overall, new manufactured goods orders have decreased 0.7% over the past 12 months, with factory orders excluding transportation equipment down 2.5% YoY.
New orders for core capital goods edged up 0.1% in July to $73.60 billion. On a YoY basis, core capital goods orders have risen 0.8%. Factory shipments rose 0.5% in July. Over the past 12 months, total factory shipments have fallen 0.6%, or 2.3% YoY with transportation equipment excluded.