October 5, 2004 -- (WhatTheyThink.com) -- New orders for manufactured goods in August decreased $0.3 billion or 0.1 percent to $370.5 billion, the Department of Commerce, Census Bureau reported today. This followed a 1.7 percent July increase. Shipments, up five of the last six months, increased $4.0 billion or 1.1 percent to $376.1 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.9 percent July increase. Unfilled orders, up twelve of the last thirteen months, increased $1.8 billion or 0.3 percent to $535.6 billion. This followed a 1.2 percent July increase. The unfilled orders-to-shipments ratio was 3.90, down from 3.92 in July. Inventories, up nine consecutive months, increased $2.2 billion or 0.5 percent to $460.9 billion. This followed a 1.0 percent July increase. The inventories-toshipments ratio was unchanged at 1.23. Quick Take from Dr. Joe Webb Printing shipments for August 2004 were up $21 million compared to August 2003. This is the third straight month of increase, unadjusted for inflation. We are now at -0.5% for the first eight months of 2004 compared to 2003. This is, of course, good news, and combined with the industry's improving profitability (keeping more out of each dollar of sales), this bodes well going into the last quarter of the year, and especially, next week's Graph Expo. ---- Premium Access Members at WhatTheyThink.com can view more analysis in Dr. Joe Webb’s weekly column on Friday, appropriately called "Fridays with Dr. Joe".