Increase in manufacturer’s new orders
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Manufacturing News, Source : TheManufacturer.com
Published : 05 Sep 2002 19:41
Manufacturer’s new orders increased 4.7% in July to $327.6 billion, according to the Census Bureau’s latest report, marking the largest increase in new orders since October 2001.
However, new orders are 2.9% below July 2001’s reading. Shipments rose 1.6% to $325.9 billion in July, following a 0.9% decrease in shipments during June. Inventories of durable goods decreased for the eighteenth consecutive month to $264.4 billion, its lowest level since 1995.
In a separate report, the Labor Department released its adjusted productivity figures to an annual rate of 1.5% for the April-June quarter, instead of its previously released figure of 1.1%. Although there was an increase, productivity for the third quarter is far below the first quarter’s rate of 8.6%.
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