The U.S. Department of Commerce reported June 25th that new orders for U.S. manufactured goods shot up 15.8 percent in May, recovering some of the steep coronavirus-related losses suffered in March and April.

New orders for U.S. manufactured goods stood at $194.4 billion for the month of May, compared to $167.8 billion in April.

May’s significant gain was overwhelmingly led by the transportation equipment sector, which rocketed by an unprecedented 80.7%. Transportation equipment orders stood at $46.9 billion in May.

Additional industries posting significant gains in new orders included motor vehicles & parts (+27.5%); primary metals (+9.1%); fabricated metals (+7.1%); and computers & related products (+4.2%). fabricated metals (+%); motor vehicles & parts (-1.6%) and fabricated metals (-1.5%). Notably, all manufacturing subsectors posted a gain in new orders – the reverse of April and March’s report in which most sectors posted a loss.


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