According to a report today from the US Census Bureau, new orders for manufactured goods in January, up six of the last seven months, increased $5.5 billion or 1.2 percent to $470.2 billion. This followed a 1.3 percent December increase. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $4.5 billion or 6.2 percent to $76.5 billion.
Shipments, up ten of the last 11 months, increased $1.1 billion or 0.2 percent to $478.3 billion. This followed a 2.5 percent December increase. Fabricated metal products, up six of the last seven months, drove the increase, $0.4 billion or 1.3 percent to $31.4 billion.
Unfilled orders, down seven of the last eight months, decreased $4.0 billion or 0.4 percent to $1,114.1 billion. This followed a 0.8 percent December decrease. The unfilled orders-to-shipments ratio was 6.57, down from 6.59 in December.
Inventories, up six of the last seven months, increased $1.0 billion or 0.2 percent to $627.9 billion. This followed a 0.3 percent December increase. The inventories-to-shipments ratio was 1.31, unchanged from December.
By stage of fabrication, January materials and supplies increased 0.4 percent in durable goods and decreased 0.2 percent in nondurable goods. Work in process increased 0.1 percent in durable goods and 0.5 percent in nondurable goods. Finished goods decreased 0.4 percent in durable goods and increased 0.6 percent in nondurable goods.