Factory Orders Decreased in May

New orders for manufactured goods increased 0.7 percent to $493.6 billion in May, according to the U.S. Census Bureau. New orders are down three of the last four months.

New orders for manufactured durable goods decreased $3.1 billion or 1.3 percent to $243.5 billion, unchanged from the previously published decrease. Transportation equipment drove the decrease, down 4.6 percent to $80.0 billion.

Shipments of manufactured durable goods increased 0.3 percent to $254.2 billion.

Inventories of manufactured durable goods increased 0.5 percent to $424.6 billion.

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About Author

Hugo Dante

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.