Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods fell $9.6 billion or 2.0 percent (nonannualized) in January, following an increase of 1.3 percent in December. Year-over-year growth rates for new orders continue to decrease from higher levels seen earlier in the recovery, increasing just 0.2 percent from last January. Excluding transportation new orders increased 1.3 percent for the month while the durable goods orders series decreased 4.9 percent and the nondurable goods orders increased 0.6 percent for the month. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, grew 7.2 percent for the month pulling its three-month annualized growth rate up from −21.1 percent in September to 45.6 percent. Shipments and unfilled orders of manufactured goods both slowed by 0.2 percent for the month. The unfilled orders-to-shipments ratio now rests at 6.27, roughly where it has been since late 2009 but still well above the pre-crisis average of 4.3. Inventories edged up 0.5 percent, pushing the inventory-to-sales ratio up to 1.28, roughly where it has been since late 2009.