Updated: 04-Aug-25 10:24 ET
Highlights
- Factory orders slumped 4.8% month-over-month in June (Briefing.com consensus: -5.1%) following an upwardly revised 8.3% increase (from 8.2%) in May.
- Excluding transportation, factory orders increased 0.4% month-over-month following a 0.3% increase in May.
- Shipments of manufactured goods jumped 0.5% on the heels of a 0.2% increase in May.
- Durable goods orders were down 9.4% after increasing 16.5% in May, led by a 22.4% decline in transportation equipment orders.
- New orders for nondurable goods rose 0.5% after increasing 0.1% in May.
- New orders for nondefense capital goods excluding aircraft—a proxy for business spending—declined 0.8% after increasing 1.9% in May.
- The inventory-to-shipments ratio held steady at 1.57.
- The key takeaway from the report is that the weakness in factory orders in June was largely concentrated in transportation equipment orders, so the headline isn't as bad as it appears at first blush; however, some extra attention will be paid next month to new orders for nondefense capital goods excluding aircraft—a proxy for business spending—to see if the weakness in June (-0.8%), which followed a 1.9% increase in May, persists.
| Category | JUN | MAY | APR | MAR | FEB |
| Factory Orders | -4.8% | 8.3% | -3.9% | 3.4% | 0.5% |
| Less Defense | -4.7% | 7.6% | -4.3% | 3.9% | 0.4% |
| Durable Goods | -9.4% | 16.5% | -6.6% | 7.6% | 1.0% |
| Nondurable Goods | 0.5% | 0.1% | -1.0% | -0.7% | 0.1% |
| Unfilled Factory Orders | 1.0% | 3.4% | 0.0% | 1.6% | 0.0% |
| Factory Shipments | 0.5% | 0.2% | -0.3% | -0.2% | 0.6% |
| Factory Inventories | 0.2% | 0.1% | -0.1% | 0.1% | 0.1% |
| Inventory/Shipment Ratio | 1.57 | 1.57 | 1.58 | 1.57 | 1.57 |
