The 2020 Mid-Year Economic Update_long

New Orders for Manufactured Goods Down 0.2% in January

Transportation equipment up 9.7 percent.

New orders for manufactured goods in January, down six consecutive months, decreased $0.9 billion or 0.2 percent to $470 billion, according to the U.S. Census Bureau. This followed a 3.5 percent December decrease. Excluding transportation, new orders decreased 1.8 percent.

Shipments, down five of the last six months, decreased $9.8 billion or 2 percent to $479.1 billion. This followed a 0.9 percent December decrease.

Unfilled orders, down two consecutive months, decreased $2.2 billion or 0.2 percent to $1,163.4 billion. This followed a 0.9 percent December decrease. The unfilled orders-to-shipments ratio was 6.68, up from 6.65 in December.

Inventories, down two consecutive months, decreased $2.5 billion or 0.4 percent to $650.5 billion. This followed a 0.4 percent December decrease. The inventories-to-shipments ratio was 1.36, up from 1.34 in December.

New orders for manufactured durable goods in January, up following two consecutive monthly decreases, increased $6.5 billion or 2.8 percent to $236.3 billion, unchanged from the previously published increase. This followed a 3.7 percent December decrease.

Transportation equipment, also up following two consecutive monthly decreases, led the increase, $6.4 billion or 9.7 percent to $72.6 billion.

New orders for manufactured nondurable goods decreased $7.4 billion or 3.1 percent to $233.7 billion.

By stage of fabrication, January materials and supplies decreased slightly in durable goods and decreased 2.3 percent in nondurable goods. Work in process increased 0.7 percent in durable goods and decreased 2.7 percent in nondurable goods. Finished goods increased 0.5 percent in durable goods and decreased 0.9 percent in nondurable goods.

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