The Commerce department released Manufacturers Shipments, Orders & Inventories today. This is the full report, as usual, the devil is in the details.

New orders for manufactured goods in June, up four of the last five months, increased $1.4 billion or 0.4 percent to $349.0 billion, the U.S. Census Bureau reported today. This followed a 1.1 percent May increase.

Excluding transportation, new orders increased 2.3 percent. Shipments, up following ten consecutive monthly decreases, increased $4.9 billion or 1.4 percent to $358.3 billion. This followed a 0.8 percent May decrease.

Unfilled orders, down nine consecutive months, decreased $6.5 billion or 0.9 percent to $740.2 billion. This was the longest streak of consecutive monthly decreases since November 2001-July 2002. This followed a 0.3 percent May decrease.

The unfilled orders-to-shipments ratio was 6.04, down from 6.15 in May. Inventories, down ten consecutive months, decreased $4.2 billion or 0.8 percent to $508.3 billion. This was the longest streak of consecutive monthly decreases since March 2003-January 2004 and followed a 0.8 percent May decrease.

The inventories-to-shipments ratio was 1.42, down from 1.45 in May.

Durable Goods are hurting, new orders are down 2.2%, while non-durable goods popped up to 2.7%.

This might imply consumer consumption is increasing, as well as future investment, although 0.4% isn't such a hot increase, still this buried report is a small ray of sunshine overall.

One item, which I could not research the correlation was, petroleum and coal products, which increased 13.2%, the largest increase in petroleum and coal products since November 2007.

So....oops, we're getting hammered with increased energy prices?

Honestly anyone else with insight on the correlation with non-durable goods new orders and Petroleum/coal please comment.