Shipments and new orders of primary metals and fabricated
metals rebounded in August, while each sector lowered
inventories slightly, according to U.S. Census Bureau data
released Sept. 25.
producers shipments totaled nearly $26.5 billion, up 6.1
percent from July. However, the total of almost $204 billion
for the first eight months of the year was 1.5 percent lower
than a year earlier, according to the data, which is not
orders totaled almost $25.8 billion in August, up 3.4 percent
from the prior month, with the eight-month tally of $206.6
billion rising 2.5 percent year on year. However, the August
totals could be attributed to fewer shipping days the prior
inventories totaled $35.1 billion in August, down 0.1 percent
from a month earlier, while fabricators inventories fell
0.5 percent to $47.6 billion.
shipments totaled $30.8 billion, up 8 percent from July. That
put the eight-month total up 0.9 percent to $232.2 billion.
The sectors new
orders rose 7.5 percent to $30.7 billion, with the eight-month
total up 2.9 percent to $242.7 billion.
order-taking is up 2.9 percent.
New orders rose for
all manufactured durable goods increased 10.9 percent last
month to $238.2 billion.
"When you strip away
volatile (manufacturing) segments (like aerospace), one sees
whats really going on and it is not pretty. Not
ugly, but not pretty," Michael Montgomery, U.S. economist at
Lexington, Mass.-based IHS Global Insight Inc., said.
"Core capital goods
deliveries, which fuel gross domestic product arithmetic, rose
1.3 percent but had fallen 1.4 percent in July. (That) pattern
is the story: Manufacturing is one step forward, one back," he
added. "Progress (for the near term will be) at a nearly