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Thanks to nationwide reopenings throughout the month, the U.S. manufacturing sector continued its rebound in June after sharp declines in March and April. According to the Census Bureau’s latest report on Manufacturers’ Shipments, Inventories, & Orders, new orders in June were up 6.2 percent over revised May orders, while the total value of shipments increased by 9.8 percent, both on a seasonally adjusted basis.
While the latest rebound shows that things were noticeably improving in May and June, factory activity is still way off pre-pandemic levels. As our chart shows, the value of U.S. manufacturers’ shipments was still almost 20 percent below last year’s total in May, and remained 7 percent below 2019 levels in June.
This chart shows the change in value of U.S. manufacturers’ shipments in 2020.
