New orders for US manufactured goods increased 1.4% from a month earlier in July of 2019, following a downwardly revised 0.5% rise in the previous month and above market expectations of 1%. It was the biggest gain in industrial orders since August of 2018, as transport orders rose the most in eleven months (7% vs 4.1% in June). Also, orders advanced for civilian aircraft and parts (47.8% vs 101.4%); computers and electronic products (0.4% vs -1.5%) and electrical equipment, appliances and components (0.5% vs 0.7%) while machinery orders fell (-0.8% vs 1.7%). Orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, went up 0.2% in July, after a downwardly revised 0.9% advance in the prior month. Meantime, shipments for manufactured products decreased 0.2%, down from a 0.1% increase in the prior month. Factory Orders in the United States averaged 0.27 percent from 1991 until 2019, reaching an all time high of 10.40 percent in July of 2014 and a record low of -9.70 percent in August of 2014.
Factory Orders in the United States is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 0.50 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 0.30 percent in 2020, according to our econometric models.