Research >> Economics
New orders for manufactured goods increased 1.4% in February 2024
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Summary
New orders for manufactured goods in February, up following two consecutive monthly decreases, increased $8.2 billion or 1.4 percent to $576.8 billion, the U.S. Census Bureau reported today. This followed a 3.8 percent January decrease. Shipments, also up following two consecutive monthly decreases, increased $8.0 billion or 1.4 percent to $581.6 billion. This followed a 0.8 percent January decrease. Unfilled orders, up eleven of the last twelve months, increased $0.1 billion or virtually unchanged to $1,392.8 billion. This followed a virtually unchanged January decrease. The unfilled orders-to-shipments ratio was 7.10, down from 7.17 in January. Inventories, up following two consecutive monthly decreases, increased $2.3 billion or 0.3 percent to $857.7 billion. This followed a 0.1 percent January decrease. The inventories-to-shipments ratio was 1.47, down from 1.49 in January.
New Orders
New orders for manufactured durable goods in February, up following two consecutive monthly decreases, increased $3.5 billion or 1.3 percent to $277.7 billion, down from the previously published 1.4 percent increase. This followed a 6.9 percent January decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $2.9 billion or 3.3 percent to $90.4 billion. New orders for manufactured nondurable goods increased $4.7 billion or 1.6 percent to $299.0 billion.
Shipments
Shipments of manufactured durable goods in February, up following two consecutive monthly decreases, increased $3.3 billion or 1.2 percent to $282.6 billion, unchanged from the previously published increase. This followed a 0.7 percent January decrease. Transportation equipment, also up following two consecutive monthly decreases, drove the increase, $3.5 billion or 4.0 percent to $89.8 billion. Shipments of manufactured nondurable goods, up following four consecutive monthly decreases, increased $4.7 billion or 1.6 percent to $299.0 billion. This followed a 0.8 percent January decrease. Petroleum and coal products, also up following four consecutive monthly decreases, led the increase, $4.0 billion or 6.3 percent to $67.8 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in February, up eleven of the last twelve months, increased $0.1 billion or virtually unchanged to $1,392.8 billion, unchanged from the previously published increase. This followed a virtually unchanged January decrease. Transportation equipment, up fourteen of the last fifteen months, drove the increase, $0.6 billion or 0.1 percent to $898.0 billion.
Inventories
Inventories of manufactured durable goods in February, up seven consecutive months, increased $1.7 billion or 0.3 percent to $528.7 billion, unchanged from the previously published increase. This followed a 0.1 percent January increase. Transportation equipment, also up seven consecutive months, led the increase, $1.2 billion or 0.7 percent to $170.1 billion. Inventories of manufactured nondurable goods, up following four consecutive monthly decreases, increased $0.6 billion or 0.2 percent to $329.1 billion. This followed a 0.6 percent January decrease. Petroleum and coal products, also up following four consecutive monthly decreases, led the increase, $0.4 billion or 0.9 percent to $47.7 billion. By stage of fabrication, February materials and supplies increased 0.2 percent in durable goods and decreased 0.8 percent in nondurable goods. Work in process increased 0.3 percent in durable goods and 1.9 percent in nondurable goods. Finished goods increased 0.5 percent in durable goods and 0.2 percent in nondurable goods.
Posted: April 2, 2024 Tuesday 10:00 AM