Research >> Economics
New orders for manufactured goods increased 2.6% in January 2021
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Summary
New orders for manufactured goods in January, up nine consecutive months, increased $13.1 billion or 2.6 percent to $509.4 billion, the U.S. Census Bureau reported today. This followed a 1.6 percent December increase. Shipments, also up nine consecutive months, increased $9.6 billion or 1.9 percent to $513.3 billion. This followed a 2.1 percent December increase. Unfilled orders, up following seven consecutive monthly decreases, increased $1.2 billion or 0.1 percent to $1,072.8 billion. This followed a 0.2 percent December decrease. The unfilled orders-to-shipments ratio was 6.10, down from 6.25 in December. Inventories, up five of the last six months, increased $0.6 billion or 0.1 percent to $696.3 billion. This followed a 0.3 percent December increase. The inventories-to-shipments ratio was 1.36, down from 1.38 in December.
New Orders
New orders for manufactured durable goods in January, up nine consecutive months, increased $8.4 billion or 3.4 percent to $256.7 billion, unchanged from the previously published increase. This followed a 1.2 percent December increase. Transportation equipment, up eight of the last nine months, led the increase, $6.1 billion or 7.7 percent to $85.1 billion. New orders for manufactured nondurable goods increased $4.7 billion or 1.9 percent to $252.7 billion.
Shipments
Shipments of manufactured durable goods in January, up eight of the last nine months, increased $4.9 billion or 1.9 percent to $260.6 billion, down from the previously published 2.0 percent increase. This followed a 2.1 percent December increase. Machinery, also up eight of the last nine months, led the increase, $1.0 billion or 3.0 percent to $33.0 billion. Shipments of manufactured nondurable goods, up nine consecutive months, increased $4.7 billion or 1.9 percent to $252.7 billion. This followed a 2.0 percent December increase. Petroleum and coal products, up eight of the last nine months, led the increase, $3.3 billion or 7.3 percent to $48.0 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in January, up following seven consecutive monthly decreases, increased $1.2 billion or 0.1 percent to $1,072.8 billion, unchanged from the previously published increase. This followed a 0.2 percent December decrease. Fabricated metal products, up nine consecutive months, led the increase, $0.9 billion or 1.2 percent to $78.6 billion.
Inventories
Inventories of manufactured durable goods in January, down two consecutive months, decreased $1.4 billion or 0.3 percent to $424.3 billion, unchanged from the previously published decrease. This followed a 0.2 percent December decrease. Transportation equipment, also down two consecutive months, drove the decrease, $2.3 billion or 1.5 percent to $145.7 billion. Inventories of manufactured nondurable goods, up five of the last six months, increased $2.0 billion or 0.7 percent to $272.0 billion. This followed a 1.1 percent December increase. Petroleum and coal products, up three consecutive months, drove the increase, $2.0 billion or 6.1 percent to $35.3 billion. By stage of fabrication, January materials and supplies increased 0.1 percent in durable goods and 1.4 percent in nondurable goods. Work in process decreased 2.0 percent in durable goods and 0.1 percent in nondurable goods. Finished goods increased 1.5 percent in durable goods and 0.6 percent in nondurable goods.
Posted: March 4, 2021 Thursday 10:00 AM