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On the radar: Boeing reports 31 new orders in July, mostly from non-US buyers

Boeing reported a total of 31 new orders for the month of July, up 22 from June which had 9 new orders after none in May. Boeing did not get much of a bounce in signed orders from the Paris Air Show and may have to look toward MAKS (Moskow Airshow) that runs August 27-September 1 and the Dubai Airshow that runs November 17-21 for any significant pickup in activity. On the plus side, Boeing seems to have stemmed the tide of cancellations. The total for year-to-date is 87, the same as in the prior month. Gross new orders reached 139 for a net of 52. Unless orders show a significant — and halfway through the year it seems unlikely — turnaround, Boeing is on pace for the lowest number of net new orders since 142 in 3009 or 239 in 2003.

The orders were mainly from non-US buyers and none were from US carriers. Unidenfitied buyers are often military.

The increase in July aircraft orders could help the transportation component in the advance durable goods orders report when it is released at 8:30 ET on Monday, August 26.

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