Factory new orders are down year over year and barely afloat excluding transportation. Inventories are a concern.
The monthly report on Manufacturers' Shipments, Inventories and Orders, shows strong signs of a manufacturing sector that has peaked.
New Orders
New orders for manufactured durable goods in May, down three of the last four months, decreased $3.1 billion or 1.3 percent to $243.5 billion, unchanged from the previously published decrease. This followed a 2.8 percent April decrease. Transportation equipment, also down three of the last four months, drove the decrease, $3.8 billion or 4.6 percent to