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
Read more from Becca MoczygembaLatest in Economy

House committee blocks GOP budget proposal
The budget proposal has big implications for steel and manufacturing.

Manufacturing in New York state contracts again in May
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.

Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).

Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)

Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.