Economy
Durable Goods Orders Drop in July
Written by Becca Moczygemba
August 24, 2023
After four months of increases, new orders for durable goods in the US dropped in July.
The US Census Bureau announced on Aug. 24 that following a 4.4% increase in June, orders for manufactured durable goods fell by 5.2%, or by $15.5 billion, to $285.9 billion in July.
When excluding transportation, new orders increased by 0.5%, said the Bureau. Transportation includes non-steel-intensive items such as aircrafts. And excluding defense, new orders fell by 5.4%.
Transportation was the largest contributor to the decrease, dropping 14.3% to $98.7 billion.
New orders for primary metals increased by 0.1% to a seasonally adjusted $26.98 billion in July from June’s $26.94 billion. Fabricated metal products orders rose 0.7% month-on-month from $35.6 billion to $35.9 billion.
Click here for more detail on the July advance report from the US Census Bureau on durable goods manufacturers’ shipments, inventories, and orders. See also Figure 1 below.
Becca Moczygemba
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