–July Durables Goods New Orders Revised Up To +0.4%
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders rose 0.1% in
July on the strong aircraft-led gain in durable goods orders, offset by
flat nondurable goods orders, data released by the Commerce Department
Thursday morning showed.
Analysts in a Market News International survey had expected factory
new orders to rise 0.2% in July. While durable goods orders were revised
up to a 0.4% gain for the month from the original 0.3% rise reported
earlier, the flat reading for nondurable goods orders kept the overall
factory orders gain below expectations.
Petroleum shipments, which are equivalent to new orders in this
data, fell 0.5% in July.
Factory orders excluding transportation fell 1.5%, the largest
monthly decline since March 2009, an indication of the weakness in other
components. Transportation orders rose 12.9%, a slightly smaller gain
than previously reported for July.
Overall factory shipments rose 1.1% in July, with nondefense
capital goods shipments excluding aircraft up 1.9%. However, when
aircraft orders were excluding, this measure of shipments fell 1.0%.
Factory inventories rose 1.0%, while unfilled orders fell 0.1%
** Market News International Washington Bureau: 202-371-2121 **