U.S. Census Bureau data released April 2 showed that new orders for manufactured goods increased 1.4% month-to-month during February to $576.8 billion, snapping a two-month slide. January orders fell a revised 3.8% (3.6% in initial report) and December’s were down 0.3%.
The February gain topped the 1% increase expected by economists surveyed by the Wall Street Journal.
The report noted that February durable goods orders increased 1.2% month-to-month, trailing the 1.4% from the Bureau’s advance report a week earlier.
Shipments — also up following two straight decreases — improved 1.4% in February to $581.6 billion, following a 0.8% decrease in January.
Unfilled orders — up 11 of the past 12 months — were virtually unchanged with a $0.1 million increase to $1.392.8 billion, following a likewise flat January.
February’s unfilled orders-to-shipments ratio was 7.10, down from January’s 7.17.
Inventories — up after two straight monthly decreases — improved $2.3 billion or 0.3% to $857.7 billion, following a 0.1% January dip.
February’s inventories-to-shipments ratio was 1.47, down from January’s 1.50.
Related Posts
-
Orders bounced back from a down October for their third gain in four months.
-
It was the third decline in the past four months, and much sharper than December’s.
-
It followed two straight months of increases.
