Prices
Durable Goods Up in May, Third Straight Increase
Written by Becca Moczygemba
June 27, 2023
New orders for manufactured durable goods increased for the third consecutive month in May, increasing 1.7% from the previous month to $288.2 billion, according to the US Census Bureau.
This follows a 1.2% month-over-month (MoM) gain in April, according to Census data. Transportation equipment is also up three consecutive months, up 3.9% to $102.6 billion.
The bureau said that excluding transportation equipment, which includes non-steel-intensive items such as aircraft, new orders increased 0.6%. New orders excluding defense, increased 3%.
New orders for primary metals increased 0.1% to a seasonally adjusted $26.8 billion in May compared to April’s $26.7 billion. Fabricated metal products orders were flat for the second consecutive month at $35.2 billion in the same comparison.
Click here for more detail on the May advance report from the US Census Bureau on durable goods manufacturers’ shipments, inventories, and orders. See also Figure 1 below.
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
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