Durable goods orders slip as supply chain disruptions persist
Durable goods orders fell 0.1% in July
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Orders for big-ticket items slipped last month as manufacturers continued to navigate a supply chain crunch that has resulted in higher materials costs.
New orders for manufactured durable goods in July fell 0.1% to a seasonally adjusted $257.2 billion, according to the Census Bureau. Analysts surveyed by Refintiv had anticipated a 0.3% decline.
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Orders rose an unrevised 0.8% in June and have increased 13 of the last 15 months.
Excluding transportation, new orders decreased 0.7%. They fell 1.2% when excluding defense.
Transportation equipment orders fell $1.7 billion, or 2.2%, to $75.3 billion to drive the decline.
Shipments rose 2.2% to $257.8 billion, and have increased in four of the last five months.
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Supply chain disruptions that were caused by factories shutting down in an attempt to help slow the spread of COVID-19 resulted in unfilled orders increasing for a sixth straight month, rising 0.3% to $1.225 trillion. Unfilled machinery orders, which have increased 16 straight months, rose by $2.3 billion to $109.2 billion.