New Orders for Manufactured Goods Up 1.8% in February

New orders for manufactured goods in February, up following six consecutive monthly decreases, increased $6.1 billion or 1.8% to $352.2 billion, according to the U.S. Census Bureau in a preliminary report. This followed a 3.5% January decrease.
 
This data is an update to the Advance data released March 25. This report provides more details on the month's performance.
 
Excluding transportation, new orders increased 1.6%. Shipments, down seven consecutive months, decreased $0.4 billion or 0.1% to $365.9 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 2.6% January decrease.
 
Unfilled orders, down five consecutive months, decreased $10.7 billion or 1.4% to $773.2 billion. This was the longest streak of consecutive monthly decreases since September 2002-January 2003. This followed a 2.0% January decrease. The unfilled orders-to-shipments ratio was 5.98, down from 6.07 in January.
 
Inventories, down six consecutive months, decreased $6.2 billion or 1.2% to $529.7 billion. This also was the longest streak of consecutive monthly decreases since March 2003-January 2004 and followed a 1.1% January decrease. The inventories-to-shipments ratio was 1.45, down from 1.46 in January.
 
New Orders
New orders for manufactured durable goods in February, up following six consecutive monthly decreases, increased $5.6 billion or 3.5% to $164.7 billion, revised from the previously published 3.4% increase. This followed a 7.8% January decrease.
 
New orders for manufactured nondurable goods increased $0.5 billion or 0.3% to $187.4 billion.
 
Shipments
Shipments of manufactured durable goods in February, down seven consecutive months, decreased $0.9 billion or 0.5% to $178.5 billion, unchanged from the previously published decrease. This also was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 5.5% January decrease.


Shipments of manufactured nondurable goods, up two consecutive months, increased $0.5 billion or 0.3% to $187.4 billion. This followed a 0.5% January increase. This increase was due to chemical products, which increased $1.1 billion or 2.2% to $51.4 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in February, down five consecutive months, decreased $10.7 billion or 1.4% to $773.2 billion, revised from the previously published 1.3% decrease. This followed a 2.0% January decrease.

Inventories
Inventories of manufactured durable goods in February, down two consecutive months, decreased $3.6 billion or 1.1% to $336.1 billion, revised from the previously published 0.9% decrease. This followed a 1.1% January decrease.

Inventories of manufactured nondurable goods, down six consecutive months, decreased $2.6 billion or 1.3% to $193.5 billion. This followed a 1.2% January decrease. Petroleum and coal, led the decrease, down $1.0 billion or 3.9% to $23.7 billion. This also was the sixth consecutive monthly decrease.

By stage of fabrication, February materials and supplies decreased 0.6% in durable goods and 1.7% in nondurable goods. Work in process decreased 1.1% in durable goods and 1.3% in nondurable goods. Finished goods decreased 1.6% in durable goods and 1.0% in nondurable goods.