Manufacturing technology orders for the month totaled $436.6 million, according to the latest U.S. Manufacturing Technology Orders Report.
Latest In Economic Trends
The year-over-year increase reflected the 12 months ending in February and was the biggest spike in 40 years, the Labor Department says.
Exports were $224.4 billion, $3.9 billion less than December exports. Imports were $314.1 billion, $3.8 billion more than December imports.
The Fastener Distributor Index recovered in February to 56.0, rebounding after January’s seasonal-adjustment-driven downtick.
Real gross domestic product increased at an annual rate of 7% in the fourth quarter of 2021, according to the ‘second’ BEA estimate.
Construction material costs soared between January 2021 and January 2022, according to an analysis of recently released government data.
Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of nearly 1.9 million.
The Census Bureau says the combined value of distributive trade sales and manufacturers’ shipments for December dropped 0.7% from November.
Advance estimates of U.S. retail and food services sales for January were $649.8 billion, an increase of 3.8% from December.
Price pressure trends continue as last month’s wholesale inflation was 9.7% higher than January 2021, the Bureau of Labor Statistics said.
The increase in revenues is well above 2019 and 2020 as U.S. inflation rises to its highest level since 1982.
Over the past year, the Consumer Price Index for All Urban Consumers increased 7.5% before seasonal adjustment, the highest since 1982.
Just 54% of new and existing homes sold between October and December were affordable to families earning the U.S. median income.
The adjusted Fastener Distributor Index was 52.7, although modest improvement was seen in most metrics, according to the latest analysis.
The deficit was $80.7 billion in December, up $1.4 billion from a revised $79.3 billion in November.
With significant upward revision in November and December, hundreds of thousands of more jobs were created than economists initially expected.
Year 2021 member sales were $58.5 billion, a 30% increase from 2020, with purchases by member companies from AD supplier partners up 39%.
But nonresidential construction spending fell 0.7%, according to an Associated Builders and Contractors data analysis.
The U.S. economy grew in the fourth quarter, but investment in nonresidential structures decreased at an annual rate of 11.4%.
Real GDP increased at an annual rate of 6.9% in the fourth quarter of 2021, according to the Bureau of Economic Analysis.
