New orders for manufactured goods increased by 0.1% in January

New orders for manufactured goods rose 0.1%, or by $300 million, to $500.5 billion in January, from December, according to the U.S. Census Bureau. The January rise followed a 0.1% increase in December.

The U.S. Census Bureau on Tuesday (March 19) released the full report on manufacturers’ shipments, inventories and orders for January.

Shipments fell 0.4%, or by $1.8 billion, to $503.1 billion, and have been down for four consecutive months. The January decline followed a 0.2% decrease in December. Unfilled orders rose 0.1%, or by $1.4 billion, to $1.182 trillion and have risen for the past three consecutive months. This followed a 0.1% decrease in December. The unfilled orders-to-shipments ratio increased to 6.57, from 6.55 in December. Inventories rose 0.5%, or by $3.6 billion, to $685.7 billion, and have risen 26 of the past 27 months. This followed a 0.1% December decline. The inventories-to-shipments ratio increased to 1.36, from 1.35 in December.

New orders for manufactured durable goods rose 0.3%, or by $900 million, to $255.3 billion, in January and have risen in the past three months. This followed a 1.3% rise in December. Transportation equipment drove the 1.2% increase, rising $1.1 billion to $91 billion. New orders for manufactured nondurable goods declined 0.2%, or by $500 million, to $245.2 billion.

Shipments of manufactured durable goods declined 0.5%, or by $1.3 billion, to $257.9 billion, and followed two consecutive months of increases. The shipments rose 0.7% in December. Transportation equipment led the decline, decreasing 1.3%, or by $1.2 billion, to $90.1 billion. Shipments of manufactured nondurable goods declined 0.2%, or by $500 million, to $245.2 billion. The shipments have declined for three consecutive months, and they decreased by 1.1% in December. Chemical products led the decline, falling 0.5%, or by $300 million, to $66.5 billion, and shipments of the products have been down for five consecutive months.

Unfilled orders for manufactured durable goods in January rose 0.1%, or by $1.4 billion, to $1.182 trillion. The unfilled orders had fallen for three consecutive months, and the January increase followed a 0.1% December decline. Transportation equipment led the rise, increasing 0.1%, or by $900 million, to $811.6 billion. Unfilled orders for the equipment had declined for three consecutive months.

Inventories of manufactured durable goods rose 0.5%, or by $1.9 billion, to $417.2 billion and have been up in 24 of the past 25 months. This followed a 0.3% decline in December. Transportation equipment led the rise, increasing 0.9%, or by $1.2 billion, to $132.6 billion. Inventories of the equipment have risen for four of the past five months. Inventories of manufactured nondurable goods rose 0.7%, or by $1.8 billion, to $268.5 billion, and the inventories rose following two consecutive monthly decreases. The inventories declined by 0.4% in December. Petroleum and coal products led the rise, increasing 3.5%, or by $1.3 billion, to $39.2 billion. The product inventories have risen after three consecutive monthly decreases. Materials and supplies increased by 0.6% in durable goods and 0.7% in nondurable goods. Work in process rose 0.3% in durable goods and 0.9% in nondurable goods. Finished goods rose 0.5% in durable goods and 0.6% in nondurable goods.