WASHINGTON, July 2 -- New orders for manufactured goods in May fell 0.3% to $358.2 billion, the Department of Commerce Census Bureau reported today. This followed a 1.1% April decrease.

Shipments, up six of the last nine months, rose 0.3% to $363.6 billion, reversing a 0.1% April decrease. Shipments reached their highest level since the data was first counted, in 1992.

Unfilled orders, up nine of the past 10 months, increased 0.4% to $523.1 billion. Unfilled orders were up 0.7% in April.

Inventories, up six consecutive months, rose 0.5% for the second straight month.

The bad news was weakness in new orders for manufactured durable goods, which dropped 1.8%. New orders for manufactured nondurables rose 1.5%.

Shipments of manufactured durable goods fell for the second consecutive month, by 0.8%. Manufactured nondurable shipments, up eight of the last nine months, rose 1.5%.

Unfilled orders of manufactured durables rose for the ninth time in 10 months. Inventories were up for the sixth consecutive month, rising 0.4%

Work in process increased slightly in durable goods and fell 2.8% in nondurables.