Machinery Backlogs Rose in June—But the Data Do Not Prove a Gearbox Shortage
U.S. factory orders declined in June, but the headline masks a materially different pattern inside the machinery sector. The U.S. Census Bureau reported on August 4 that total manufactured-goods orders fell 0.3 percent to $656.5 billion. Machinery new orders, however, increased 0.3 percent to $43.9 billion, machinery shipments rose 1.8 percent to $42.2 billion, and … Read more