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 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 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