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Free AccessANALYSIS: US June Factory Orders rise 3%; Ex-Trans -0.2%>
--Factory Inventories +0.2%; Business Inventories Tracking +0.4%
By Sara Haire and Holly Stokes
WASHINGTON (MNI) - The value of new factory orders rose by 3% in
June, right on the target expectation by analysts from an MNI survey.
Nondurable goods orders fell 0.3%, but durable goods orders were revised
slightly down to a still strong 6.4% rise, data released by the Commerce
Department Thursday morning showed.
Petroleum and coal products shipments fell by 2.7% in June, leading
the decrease in nondurables orders. Nondurables shipments are equivalent
to orders in this report.
Total factory orders excluding transportation fell 0.2% in June,
while durable goods orders excluding transportation were up 0.1%,
revised down from the 0.2% increase in the advance estimate.
Transportation orders rose 19% in June based on Thursday's data,
unrevised from the advance estimate. Nondefense aircraft orders rose by
131.1% in June and defense aircraft orders were down 0.3%. Motor
vehicles orders rose 0.1% in June, while orders for ships and boats fell
by 3.4%.
Nondefense capital goods new orders rose 21.1%, but were flat when
a 228.7% rise in the civilian aircraft category is excluded.
Overall factory shipments were down 0.2% in the month due to a flat
durable goods shipments and a 0.3% decline in nondurables shipments.
Nondefense capital goods shipments rose 0.4% and were up 0.1% excluding
the civilian aircraft component.
Factory inventories were up 0.2% in the month, compared with the
0.2% decline in shipments, shifting the inventory-to-shipments ratio to
rise to 1.38.
The Commerce Department's advance report on inventories showed a
0.6% gain for wholesale inventories and a 0.6% rise for retail
inventories. While these data are eligible for revision, the levels as
they stand now, combined with Thursday's factory inventory data, would
result in a 0.4% increase in June business inventories when that report
is released on August 15, an MNI calculation showed. The revised
wholesale data for June will be released on August 9 and could alter
this projection.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.