Keeping you up to date on the latest data releases.
- Factory Orders
New orders for manufactured goods increased $14.5 billion, or 3.0 percent (nonannualized), in February, following a decrease of 1.0 percent in January. Year-over-year growth rates for new orders may have slowed from higher levels seen earlier in the recovery, yet they are trending in the right direction in recent months, having increased 2.7 percent from last February. Excluding transportation, new orders increased 0.3 percent for the month, while the durable and nondurable goods orders series rose 5.6 percent and 0.8 percent, respectively. Nondefense capital goods excluding aircraft orders, considered a leading indicator of business investment spending, fell 3.2 percent for the month, pulling its 3-month annualized growth rate down to 10.1 percent from 42.8 percent in January. Shipments and unfilled orders of manufactured goods both increased by 0.9 percent for the month. The unfilledndash;orders-to-shipments ratio now rests at 6.28, roughly where it has been since late 2009 but still well above the pre-crisis average of 4.3. Inventories edged up for the third month in a row, increasing 0.2 percent; the inventory-to-shipments ratio edged down to 1.27, roughly where it has been since late 2009.