New orders for manufactured durable goods increased $4.6 million or 2% to $241.1 billion, according to the U.S. Department of Commerce. The increase was once again fueled by transportation equipment, which had a 4.7% increase in new orders.
Shipments of manufactured durable goods also rose in July, marking the second straight month the segment has experienced an increase, with a boost of $2.3 billion or 1% to $243.2 billion. Transportation equipment accounted for $1.9 billion of the increase.
Unfilled orders moved up slightly in July, with a 0.2% rise to $1,197.5 billion, marking a change from June when unfilled orders remained largely flat.
In addition, nondefense new orders for capital goods increase by $900 million or 1.1% to $82.3 billion, while defense new orders for capital goods made a giant leap, increasing 22.3% to reach $11 billion during the month.
Inventories for durable goods sagged slightly, falling by $100 million after a 0.4% increase in June. Primary metals, which have been down for the last six months, were the primary reason for the slide.
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