New orders for US manufactured goods fell 0.7% in January from December to US$483B, increased 0.2% excluding transportation; new orders for manufactured durable goods fell 1% to US$225B: Dept. of Commerce

WASHINGTON , March 6, 2014 (press release) – Summary. New orders for manufactured goods in January, down three of the last four months, decreased $3.3 billion or 0.7 percent to $483.0 billion, the U.S. Census Bureau reported today. This followed a 2.0 percent December decrease. Excluding transportation, new orders increased 0.2 percent. Shipments, down two consecutive months, decreased $1.7 billion or 0.3 percent to $490.7 billion. This followed a 0.3 percent December decrease. Unfilled orders, up eleven of the last twelve months, increased $0.3 billion to $1,059.9 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.2 percent December increase. The unfilled orders-to-shipments ratio was 6.50, down from 6.52 in December. Inventories, up thirteen of the last fourteen months, increased $1.2 billion or 0.2 percent to $637.7 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.5 percent December increase. The inventories-to-shipments ratio was 1.30, up from 1.29 in December.

New Orders. New orders for manufactured durable goods in January, down three of the last four months, decreased $2.3 billion or 1.0 percent to $225.0 billion, unchanged from the previously published decrease. This followed a 5.3 percent December decrease. Transportation equipment, also down three of the last four months, drove the decrease, down $4.1 billion or 5.7 percent to $67.2 billion. New orders for manufactured nondurable goods decreased $0.9 billion or 0.4 percent to $258.1 billion.

Shipments. Shipments of manufactured durable goods in January, down two consecutive months, decreased $0.7 billion or 0.3 percent to $232.6 billion, revised from the previously published 0.4 percent decrease. This followed a 1.7 percent December decrease. Machinery, down following five consecutive monthly increases, drove the decrease, down $1.0 billion or 2.9 percent to $34.6 billion. Shipments of manufactured nondurable goods, down following two consecutive monthly increases, decreased $0.9 billion or 0.4 percent to $258.1 billion. This followed a 1.0 percent December increase. Chemical products, down two of the last three months, led the decrease, down $0.6 billion or 1.0 percent to $63.8 billion.

Unfilled Orders. Unfilled orders for manufactured durable goods in January, up eleven of the last twelve months, increased $0.3 billion to $1,059.9 billion, revised from the previously published 0.1 percent increase. This was at the highest level since the series was first published on a NAICS basis and followed a 0.2 percent December increase. Machinery, up nine of the last ten months, drove the increase, up $2.0 billion or 1.8 percent to $112.1 billion.

Inventories. Inventories of manufactured durable goods in January, up nine of the last ten months, increased $1.1 billion or 0.3 percent to $389.1 billion, unchanged from the previously published increase. This was at the highest level since the series was first published on a NAICS basis and followed a 0.9 percent December increase. Transportation equipment, up twenty of the last twenty-one months, led the increase, up $1.1 billion or 0.9 percent to $123.0 billion. Inventories of manufactured nondurable goods, up following four consecutive monthly decreases, increased slightly to $248.6 billion. This followed a 0.2 percent December decrease. Chemical products, up two consecutive months, drove the increase, up $0.1 billion or 0.1 percent to $81.1 billion. By stage of fabrication, January materials and supplies increased 0.8 percent in durable goods and 0.5 percent in nondurable goods. Work in process increased 0.1 percent in durable goods and 1.0 percent in nondurable goods. Finished goods decreased slightly in durable goods and 0.7 percent in nondurable goods.

Figures in text are adjusted for seasonality, but not for inflation. Figures on new and unfilled orders exclude data for semiconductor manufacturing. For data, call (301) 763-4673 or go to <http://www.census.gov/m3>.

The Advance Report on durable goods for February is scheduled for release on March 26, 2014, at 8:30 a.m. EDT and the Full Report on April 2, 2014, at 10:00 a.m. EDT. See back page for survey description.

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