Factory Orders Declined 2.1% in July

Washington, DC, September 5, 2023-New orders for manufactured goods in July, down following four consecutive monthly increases, decreased $12.7 billion or 2.1% to $579.4 billion, the U.S. Census Bureau reported.

This followed a 2.3% June increase.

Shipments, up three consecutive months, increased $2.9 billion or 0.5% to $577.2 billion. This followed a 0.2% June increase.

Unfilled orders, up seven of the last eight months, increased $7.2 billion or 0.5% to $1,332.0 billion. This followed a 1.8% June increase.

The unfilled orders-to-shipments ratio was 6.80, up from 6.74 in June.

Inventories, up following two consecutive monthly decreases, increased $0.6 billion or 0.1% to $852.5 billion. This followed a 0.2% June decrease. The inventories-to-shipments ratio was 1.48, unchanged from June.