New orders for manufactured goods in January, down following two consecutive monthly increases, decreased $4.8 billion or 1.0 percent to $462.6 billion, the U.S. Census Bureau reported. This followed a 1.4 percent December increase. Excluding transportation, new orders decreased 0.3 percent.

Shipments, up eight consecutive months, increased $4.1 billion or 0.9 percent to $463.6 billion. This followed a 0.8 percent December increase.

Unfilled orders, up twenty-one of the last twenty-two months, increased $5.4 billion or 0.6 percent to $917.9 billion. This followed a 1.5 percent December increase. The unfilled orders-to-shipments ratio was 6.10, up from 6.04 in
December.

Inventories, up twenty-seven of the last twenty-eight months, increased $3.9 billion or 0.6 percent to $614.7 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 inventories-to shipments ratio was 1.33, unchanged from December.

New Orders

New orders for manufactured durable goods in January, down following three consecutive monthly increases, decreased $8.0 billion or 3.7 percent to $206.9 billion, revised from the previously published 4.0 percent decrease. This followed a 3.3 percent December increase.

Machinery, also down following three consecutive monthly increases, had the largest decrease, $3.6 billion or 10.5 percent to $30.5 billion.

Shipments

Shipments of manufactured durable goods in January, up two consecutive months, increased $0.8 billion or 0.4 percent to $208.0 billion, unchanged from the previously published increase. This followed a 2.0 percent December increase.

Transportation equipment, also up two consecutive months, had the largest increase, $2.9 billion or 6.1 percent to $50.6 billion.

Shipments of manufactured nondurable goods, up two of the last three months, increased $3.3 billion or 1.3 percent to $255.7 billion. This followed a 0.2 percent December decrease. Petroleum and coal products, also up two of the last three months, led the increase, up $2.5 billion or 3.5 percent to $74.1 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in January, up twenty-one of the last twenty-two months, increased $5.4 billion or 0.6 percent to $917.9 billion, revised from the previously published 0.5 percent increase. This followed a 1.5 percent December increase.

Transportation equipment, up twelve of the last thirteen months, had the largest increase, $4.8 billion or 0.9 percent to $534.9 billion.