Research >> Economics
New orders for manufactured goods decreased 0.7% in February 2023
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Summary
New orders for manufactured goods in February, down three of the last four months, decreased $3.9 billion or 0.7 percent to $536.4 billion, the U.S. Census Bureau reported today. This followed a 2.1 percent January decrease. Shipments, also down three of the last four months, decreased $2.8 billion or 0.5 percent to $542.8 billion. This followed a 0.3 percent January increase. Unfilled orders, down following twenty-nine consecutive monthly increases, decreased $1.1 billion or 0.1 percent to $1,155.6 billion. This followed a virtually unchanged January increase. The unfilled orders-to-shipments ratio was 6.10, up from 6.09 in January. Inventories, down two consecutive months, decreased $0.8 billion or 0.1 percent to $806.3 billion. This followed a 0.1 percent January decrease. The inventories-to-shipments ratio was 1.49, up from 1.48 in January.
New Orders
New orders for manufactured durable goods in February, down three of the last four months, decreased $2.7 billion or 1.0 percent to $268.4 billion, unchanged from the previously published decrease. This followed a 5.0 percent January decrease. Transportation equipment, also down three of the last four months, led the decrease, $2.6 billion or 2.8 percent to $89.5 billion. New orders for manufactured nondurable goods decreased $1.2 billion or 0.4 percent to $268.1 billion.
Shipments
Shipments of manufactured durable goods in February, down two consecutive months, decreased $1.6 billion or 0.6 percent to $274.7 billion, unchanged from the previously published decrease. This followed a 0.4 percent January decrease. Transportation equipment, also down two consecutive months, led the decrease, $1.3 billion or 1.4 percent to $90.2 billion. Shipments of manufactured nondurable goods, down three of the last four months, decreased $1.2 billion or 0.4 percent to $268.1 billion. This followed a 1.1 percent January increase. Petroleum and coal products, also down three of the last four months, drove the decrease, $2.0 billion or 3.5 percent to $55.4 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in February, down following twenty-nine consecutive monthly increases, decreased $1.1 billion or 0.1 percent to $1,155.6 billion, unchanged from the previously published decrease. This followed a virtually unchanged January increase. Transportation equipment, down following twenty-one consecutive monthly increases, led the decrease, $0.7 billion or 0.1 percent to $683.8 billion.
Inventories
Inventories of manufactured durable goods in February, up twenty-four of the last twenty-five months, increased $0.9 billion or 0.2 percent to $493.7 billion, unchanged from the previously published increase. This followed a 0.2 percent January decrease. Transportation equipment, up three of the last four months, led the increase, $0.6 billion or 0.4 percent to $158.8 billion. Inventories of manufactured nondurable goods, down seven of the last eight months, decreased $1.7 billion or 0.5 percent to $312.6 billion. This followed a virtually unchanged January decrease. Petroleum and coal products, down three of the last four months, drove the decrease, $1.9 billion or 3.7 percent to $49.2 billion. By stage of fabrication, February materials and supplies were virtually unchanged in durable goods and decreased 0.8 percent in nondurable goods. Work in process was virtually unchanged in both durable and nondurable goods. Finished goods increased 0.6 percent in durable goods and decreased 0.5 percent in nondurable goods.
Posted: April 4, 2023 Tuesday 10:00 AM