June Printing Shipments Up $421 Million: Dr. Joe Webb Comments
Press release from the issuing company
August 4, 2004 -- (WhatTheyThink.com) -- New orders for manufactured goods in June increased $2.7 billion or 0.7 percent to $363.2 billion, the Department of Commerce, Census Bureau reported today. This followed a 0.4 percent May increase.
Shipments, up seven of the last ten months, increased $2.5 billion or 0.7 percent to $367.2 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.6 percent May increase.
Unfilled orders, up ten of the last eleven months, increased $3.2 billion or 0.6 percent to $527.5 billion. This followed a 0.6 percent May increase. The unfilled orders-to-shipments ratio was 3.96, down from 3.97 in May.
Inventories, up seven consecutive months, increased $3.0 billion or 0.7 percent to $452.9 billion. This followed a 0.7 percent May increase. The inventories-toshipments ratio was unchanged at 1.23.
Dr. Joe Webb Comments:
Finally, increased magazine ad pages, retail advertising, and better corporate performance have started to show up in printing shipments data. The unadjusted June 2004 shipments were up +$421 million compared to last year. The seasonally adjusted shipments were up +$335 million. Just a couple of months ago, the industry was running at a rate of -2.9% compared to 2003, and now it is -1.4%, obviously picking up ground. Shipments for the first six months are still -$642 million compared to last year. This is the first month with an increase in quite a while. It's too early to say that we are turning the corner for good, but this is the first move in the right direction. This means that second quarter profits were probably very strong, and implies a better capital investment environment going into October's GraphExpo.
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