Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased 1.3 percent (nonannualized) in February, following a decrease of 1.1 percent in January. Excluding transportation, new orders increased 0.9 percent for the month. The volatile durable goods orders series increased 2.4 percent following January’s decline of 3.5 percent. However, the 3-month annualized growth rate, 8.8 percent, for durable goods orders has come down from December’s reading of 34.9 percent. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, rose 1.7 percent for the month while its 3-month annualized growth rate (7.0 percent) continues to fluctuate from positive to negative readings. Shipments of manufactured goods were slightly positive (0.1 percent) for the month, while its 3-month annualized growth rate remains steady around 6 percent. Unfilled orders continue to grow increasing 1.3 percent in February. Over the past year, unfilled orders have increased 10.6 percent, its highest reading since August 2005. The unfilled orders-to-shipments ratio now rests at 6.23. Inventories also continue to accumulate, 0.4 percent, however the inventory/sales ratio has remained stable at 1.33.