New orders for US-manufactured goods dropped in February, likely because of persistent shortages of materials and a shift in spending back to services.
- Factory orders declined 0.5% in February. Data for January was revised slightly higher to show orders rising 1.5% rather than 1.4% as previously estimated.
- Shipments increased by $3.1 billion or 0.6% to $541 billion after a 1.4% increase in January.
- Unfilled orders rose $5.4 billion or 0.4% to $1,288.5 billion after 0.9% increase in January. The unfilled orders-to-shipments ratio was 6.74, an increase from 6.72 in January.
- Inventories increased by $5 billion or 0.6% to $785.2 billion after an increase of 0.8% in January. The inventories-to-shipments ratio was 1.45, largely unchanged from January.
Shipments of manufactured durable goods in February were virtually unchanged at $270.7 billion after rising 1.2% in January.
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Source: US Census Bureau