Orders for Manufactured Goods Rose 0.3% in May

Washington, DC, July 5, 2023-New orders for manufactured goods in May, up five of the last six months, increased $1.6 billion or 0.3 percent to $578.0 billion, the U.S. Census Bureau reported.

This followed a 0.3% April increase. Shipments, up following three consecutive monthly decreases, increased $1.6 billion or 0.3% to $572.6 billion. This followed a 0.6% April decrease.

Unfilled orders, up five of the last six months, increased $10.5 billion or 0.8% to $1,301.9 billion. This followed a 0.8% April increase. The unfilled orders-to-shipments ratio was 6.65, down from 6.71 in April. Inventories, down three of the last four months, decreased $1.7 billion or 0.2% to $853.8 billion. This followed a 0.3% April increase. The inventories-to-shipments ratio was 1.49, down from 1.50 in April.