New orders for U.S.-manufactured goods increased 1.7% in January

New orders for manufactured goods in January, up nine of the last 10 months, increased $6.2 billion, or 1.7 percent, to $378.4 billion, the U.S. Census Bureau reported on March 4. This followed a 1.5 percent December increase. Excluding transportation, new orders increased 0.1 percent.

Shipments, up seven of the last eight months, increased $1.0 billion (0.3 percent) to $383.7 billion. This followed a 1.8 percent December increase.

Unfilled orders, up following 15 consecutive monthly decreases, increased $100 million to $717.8 billion. This followed a 0.9 percent December decrease.

The unfilled orders-to-shipments ratio was 5.54, up from 5.44 in December.

Inventories, up three of the last four months, increased $800 million (0.2 percent) to $495.2 billion. This followed a 0.2 percent December decrease. The inventories-to-shipments ratio was 1.29, unchanged from December.

New Orders
New orders for manufactured durable goods in January, up two consecutive months, increased $4.4 billion (2.6 percent) to $174.9 billion, revised from the previously published 3.0 percent increase. This followed a 1.8 percent December increase.

Transportation equipment, up four of the last five months, had the largest increase, $5.8 billion (15.0 percent) to $44.6 billion.

New orders for manufactured non-durable goods increased $1.7 billion (0.9 percent) to $203.5 billion.

Shipments
Shipments of manufactured durable goods in January, down following four consecutive monthly increases, decreased $700 million (0.4 percent) to $180.2 billion, revised from the previously published 0.2 percent decrease. This followed a 2.4 percent December increase.

Transportation equipment, down following two consecutive monthly increases, had the largest decrease, $1.8 billion (3.9 percent) to $44.4 billion.

Shipments of manufactured non-durable goods, up nine of the last 10 months, increased $1.7 billion (0.9 percent) to $203.5 billion. This followed a 1.3 percent December increase. This increase was led by petroleum and coal products, which increased $1.3 billion (2.8 percent) to $45.9 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in January, up following 15 consecutive monthly decreases, increased $100 million to $717.8 billion, revised from the previously published 0.1 percent increase. This followed a 0.9 percent December decrease.

Primary metals, up seven of the last eight months, had the largest increase, $500 million (3.4 percent) to $16.1 billion.

Inventories
Inventories of manufactured durable goods in January, down 13 consecutive months, decreased $100 million to $302.6 billion, unchanged from the previously published decrease. This followed a 0.2 percent December decrease.

Computers and electronic products, down 12 of the last 13 months, had the largest decrease, $500 million (1.1 percent) to $42.9 billion.

Inventories of manufactured non-durable goods, up three of the last four months, increased $800 million (0.4 percent) to $192.6 billion. This followed a 0.1 percent December decrease. Petroleum and coal products led the increase, up $700 million (2.3 percent) to $31.9 billion.

By stage of fabrication, January materials and supplies decreased 0.4 percent in durable goods and 0.4 percent in non-durable goods. Work in process increased 0.3 percent in durable goods and decreased 1.7 percent in non-durable goods. Finished goods decreased 0.1 percent in durable goods and increased 2.0 percent in non-durable goods