New orders for U.S. manufactured goods remained flat during February month-over-month, continuing a recent trend, as weak commercial aircraft orders offset gains in other categories.

• Overall, new orders were virtually unchanged in February month-over-month (+$0.3 billion)  to $619.6 billion after a likewise flat January and a 0.4% decrease in December. Economists had expected a 0.2% February decline. Year-over-year, orders increased 3.7%.
  • Core capital goods orders increased 0.7% month-over-month
• Shipments increased 1.4% MoM to $632.2 billion after a 0.7% January increase. Unfilled orders increased 0.1% to $1.54 trillion after a 0.6% January increase. 
  • Shipments of core capital goods rose 1.0% month-over-month
• The unfilled orders-to-shipments ratio was 6.92 in February, down from 6.99 in January. Inventories ticked up 0.1% in February to $950.5 billion after a 0.1% January increase. 
• The February inventories-to-shipments ratio was 1.53, down from 1.55 in January.

Durable vs. Nondurable

Durable goods

• New orders decreased 1.3% in February to $315.9 billion after January’s 0.4% decrease. Transportation equipment drove the decrease with a 5.3% decline to $106.3 billion (fourth decrease in five months). That was offset by healthy gains in categories of computers and electronics, machinery, primary metals and fabricated metal products.
  • Within transportation equipment, commercial aircraft orders plunged 28.6% month-over-month.
• Shipments increased 1.4% to $319.5 billion after a 0.9% January increase. Transportation equipment drove the increase with a 1.6% gain to $105.6 billion. 
• Unfilled orders increased 0.1% to $1.54 trillion after a 0.6% January increase. Machinery led the increase with a 0.5% gain (seventh straight increase) to $146 billion. 
• Inventories increased 0.1% during February to $595.7 billion after a 0.2% January gain. Primary metals led the gain with a 0.4% increase to $49.4 billion (12th straight increase). 

Nondurable

• New orders for manufactured nondurable goods increased 1.5% to $303.7 billion. 
• Shipments increased 1.5% to $303.7 billion after a 0.5% January increase. Petroleum and coal led the increase with a 6.2% jump to $55.8 billion. 
• Inventories were virtually unchanged to $354.7 billion after a 0.3% January decrease. Petroleum and coal led the increase with a 0.5% gain to $44.1 billion.

See the Census Bureau’s product category-specific data on February orders, shipments, inventories and more here.