April Factory Orders Shows Manufacturing Has Slowed
This morning the Census Bureau released the report on April’s manufacturers’ shipments, inventories and orders. The report shows more evidence, on top of what we saw yesterday, that manufacturing has cooled in the past few months.
Below are some of the key numbers from the report:
- New orders of manufactured goods decreased $5.5 billion or 1.2 percent to $440.5 billion.
- Excluding transportation new orders decreased 0.2 percent.
- Shipments were down $0.9 billion or 0.2 percent to $444.5 billion.
- Unfilled orders increased $2.5 billion or 0.3 percent.
- Inventories increased just $7.7 billion or 1.3 percent to $587.8 billion.
NAM Chief Economist Chad Moutray will post a detailed analysis this afternoon.