Manufacturing unfilled orders edged up in June, primarily on higher unfilled orders of motor vehicles. PHOTO courtesy Stellantis.
Total inventory levels edged up 0.3% to $123.2 billion in June, on higher inventories in 9 of 21 subsectors, driven by higher inventories of aerospace product and parts (+3.3%) and chemicals (+2.5%).
The gains were partially offset by lower inventories of primary metals (-1.9%) and machinery (-1.9%). On a year-over-year basis, total inventories rose 5.0% in June.
The inventory-to-sales ratio increased from 1.69 in May to 1.72 in June. This ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.
The total value of unfilled orders edged up 0.2% to $104.5 billion in June, primarily on higher unfilled orders of motor vehicles as well as electrical equipment, appliances, and components.