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U.S. Manufacturing adds to gains in February

New orders flat for month; shipments and inventories continue gains.

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New orders for manufactured goods in February, down following three consecutive monthly increases, decreased $0.4 billion or 0.1 percent to $446.0 billion, the U.S. Census Bureau reported today. This followed a 3.3 percent January
increase. Excluding transportation, new orders increased 0.1 percent.

Shipments, up six consecutive months, increased $1.4 billion or 0.3 percent to $448.3 billion. This followed a 1.7 percent January increase. Unfilled orders, up ten of the last
eleven months, increased $3.9 billion or 0.5 percent to $834.8 billion. This followed a 0.8 percent January increase. The unfilled orders-to-shipments ratio was 5.64, up from 5.63 in January. Inventories, up thirteen of the last fourteen months, increased $4.6 billion or 0.8 percent to $565.0 billion. This followed a 1.5 percent January increase. The inventories-to shipments ratio was 1.26, up from 1.25 in January.

New Orders

New orders for manufactured durable goods in February, down four of the last five months, decreased $1.3 billion or 0.6 percent to $200.8 billion, revised from the previously published 0.9 percent decrease. This followed a 3.7 percent January increase. Transportation equipment, also down four of the last five months, had the largest decrease, $0.8 billion or 1.5 percent to $50.4 billion. New orders for manufactured nondurable goods increased $0.8 billion or 0.3 percent to $245.2 billion.

Shipments

Shipments of manufactured durable goods in February, up four consecutive months, increased $0.6 billion or 0.3 percent to $203.0 billion, unchanged from the previously published increase. This followed a 0.2 percent January increase.

Transportation equipment, up three consecutive months, had the largest increase, $0.7 billion or 1.4 percent to $49.1 billion. Shipments of manufactured nondurable goods, up seven consecutive months, increased $0.8 billion or 0.3 percent to $245.2 billion. This followed a 3.0 percent January increase. Food products, up eight consecutive months, led the increase, up $0.8 billion or 1.3 percent to $59.5 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 2.5 percent January increase.

Unfilled Orders

Unfilled orders for manufactured durable goods in February, up ten of the last eleven months, increased $3.9 billion or 0.5 percent to $834.8 billion, revised from the previously published 0.4 percent increase. This followed a 0.8 percent January increase. Machinery, up thirteen consecutive months, had the largest increase, $1.4 billion or 1.2 percent to
$114.7 billion.

Inventories

Inventories of manufactured durable goods in February, up fourteen consecutive months, increased $3.2 billion or 1.0 percent to $328.8 billion, revised from the previously published 0.9 percent increase. This followed a 0.9 percent January increase. Transportation equipment, also up fourteen consecutive months, had the largest increase, $0.8 billion or 1.0 percent to $87.8 billion.

Inventories of manufactured nondurable goods, up six consecutive months, increased $1.4 billion or 0.6 percent to $236.3 billion. This followed a 2.3 percent January increase. Petroleum and coal products, also up six consecutive months, led the increase, up $0.8 billion or 1.5 percent to $54.1 billion.

By stage of fabrication, February materials and supplies increased 0.6 percent in durable goods and 1.5 percent in nondurable goods. Work in process increased 1.0 percent in durable goods and 1.3 percent in nondurable goods. Finished goods increased 1.3 percent in durable goods and decreased 0.3 percent in nondurable goods.