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U.S. Manufacturers continue gains in January

New orders climb 3.1 percent for month.

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Summary
New orders for manufactured goods in January, up six of the last seven months, increased $13.6 billion or 3.1 percent to $445.6 billion, the U.S. Census Bureau reported today. This followed a 1.4 percent December increase. Excluding transportation, new orders increased 0.7 percent. Shipments, up five consecutive months, increased $8.1 billion or 1.8 percent to $447.4 billion. This followed a 2.7 percent December increase. Unfilled orders, up nine of the last ten months, increased $4.8 billion or 0.6 percent to $829.6 billion. This followed a 0.2 percent December decrease. The unfilled ordersto-shipments ratio was 5.60, up from 5.55 in December. Inventories, up twelve of the last thirteen months, increased $7.1 billion or 1.3 percent to $559.3 billion. This followed a 1.4 percent December increase. The inventories-to-shipments ratio was 1.25, down from 1.26 in December.

New Orders
New orders for manufactured durable goods in January, up following three consecutive monthly decreases, increased $6.2 billion or 3.2 percent to $201.0 billion, revised from the previously published 2.7 percent increase. This followed a 0.6 percent December decrease.

Transportation equipment, also up following three consecutive monthly decreases, had the largest increase, $10.8 billion or 27.3 percent to $50.3 billion. New orders for manufactured nondurable goods increased $7.4 billion or 3.1 percent to $244.6 billion.

Shipments
Shipments of manufactured durable goods in January, up four of the last five months, increased $0.7 billion or 0.3 percent to $202.8 billion, unchanged from the previously published increase. This followed a 2.3 percent December increase.

Primary metals, up six consecutive months, had the largest increase, $1.0 billion or 4.4 percent to 23.1 billion.

Shipments of manufactured nondurable goods, up six consecutive months, increased $7.4 billion or 3.1 percent to $244.6 billion. This followed a 3.1 percent December increase. Petroleum and coal products, also up six consecutive months, led the increase, up $5.4 billion or 8.4 percent to $69.7 billion.

Unfilled Orders
Unfilled orders for manufactured durable goods in January, up nine of the last ten months, increased $4.8 billion or 0.6 percent to $829.6 billion, revised from the previously published 0.5 percent increase. This followed a 0.2 percent December decrease. Machinery, up twelve consecutive months, had the largest increase, $2.3 billion or 2.1 percent to $113.2 billion.

Inventories
Inventories of manufactured durable goods in January, up thirteen consecutive months, increased $2.2 billion or 0.7 percent to $324.7 billion, unchanged from the previously published increase. This followed a 0.8 percent December increase. Transportation equipment, also up thirteen consecutive months, had the largest increase, $0.7 billion or 0.8 percent to $87.0 billion. Inventories of manufactured nondurable goods, up five consecutive months, increased $5.0 billion or 2.2 percent to $234.5 billion. This followed a 2.2 percent December increase. Petroleum and coal products, also up five
consecutive months, led the increase, up $2.5 billion or 4.9 percent to $53.4 billion.

By stage of fabrication, January materials and supplies increased 0.8 percent in durable goods and 2.4 percent in nondurable goods. Work in process increased 0.6 percent in durable goods and 1.4 percent in nondurable goods. Finished goods increased 0.6 percent in durable goods and 2.3 percent in nondurable goods.