U.S. factory orders rose unexpectedly in January by $500.5 billion, 0.1% to beat the consensus. New orders for manufactured goods in the U.S. have now risen for two straight months.
The consensus forecast was looking for a flat zero, with forecasts ranging from a low of -3.0% to a high of 0.6%.
Shipments, which have been down now for four consecutive months, fell $1.8 billion or 0.4% to $503.1 billion. The decline follows a 0.2% decrease in December.
Unfilled orders, which are up following three consecutive monthly decreases, rose $1.4 billion or 0.1% to $1,181.9 billion. That followed a 0.1% drop in December.
The unfilled orders‐to‐shipments ratio was 6.57, up from 6.55 in December.
Inventories, up twenty‐six of the last twenty‐seven months, rose again $3.6 billion or 0.5% to $685.7 billion. That followed a 0.1% decline in December. The inventories‐to‐shipments ratio was 1.36, up from 1.35 in December.
New Orders
New orders for manufactured durable goods in January, which are up now for three consecutive months, increased $0.9 billion or 0.3% to $255.3 billion. That’s down from the advance estimate of +0.4% and followed a gain of 1.3% in December.
Transportation equipment, up five of the last six months drove the increase, $1.1 billion or 1.2% to $91.0 billion. New orders for manufactured nondurable goods decreased $0.5 billion or 0.2% to $245.2 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in January, which are up following three consecutive monthly decreases, increased $1.4 billion or 0.1% to $1,181.9 billion. This followed a decline of 0.1% for December.
Transportation equipment, also up now following three consecutive monthly decreases, led the gain, rising $0.9 billion or 0.1% to $811.6
billion.
