Research >> Economics
New orders for manufactured goods decreased 0.5% in February 2022
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Summary
New orders for manufactured goods in February, down following nine consecutive monthly increases, decreased $2.7 billion or 0.5 percent to $542.0 billion, the U.S. Census Bureau reported today. This followed a 1.5 percent January increase. Shipments, up twenty-one of the last twenty-two months, increased $3.1 billion or 0.6 percent to $541.0 billion. This followed a 1.4 percent January increase. Unfilled orders, up thirteen consecutive months, increased $5.4 billion or 0.4 percent to $1,288.5 billion. This followed a 0.9 percent January increase. The unfilled orders-to-shipments ratio was 6.74, up from 6.72 in January. Inventories, up twenty of the last twenty-one months, increased $5.0 billion or 0.6 percent to $785.2 billion. This followed a 0.8 percent January increase. The inventories-to-shipments ratio was 1.45, unchanged from January.
New Orders
New orders for manufactured durable goods in February, down following four consecutive monthly increases, decreased $5.8 billion or 2.1 percent to $271.7 billion, up from the previously published 2.2 percent decrease. This followed a 1.5 percent January increase. Transportation equipment, down following three consecutive monthly increases, led the decrease, $4.6 billion or 5.3 percent to $82.8 billion. New orders for manufactured nondurable goods increased $3.1 billion or 1.2 percent to $270.3 billion.
Shipments
Shipments of manufactured durable goods in February, up nine of the last ten months, increased less than $0.1 billion or virtually unchanged to $270.7 billion, up from the previously published virtually unchanged decrease. This followed a 1.2 percent January increase. Computers and electronic products, up seven of the last eight months, drove the increase, $0.4 billion or 1.2 percent to $30.3 billion. Shipments of manufactured nondurable goods, up twenty-one of the last twenty-two months, increased $3.1 billion or 1.2 percent to $270.3 billion. This followed a 1.5 percent January increase. Petroleum and coal products, up nine of the last ten months, led the increase, $2.4 billion or 4.1 percent to $61.5 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in February, up thirteen consecutive months, increased $5.4 billion or 0.4 percent to $1,288.5 billion, unchanged from the previously published increase. This followed a 0.9 percent January increase. Transportation equipment, up twelve of the last thirteen months, led the increase, $5.0 billion or 0.6 percent to $853.4 billion.
Inventories
Inventories of manufactured durable goods in February, up thirteen consecutive months, increased $2.3 billion or 0.5 percent to $479.1 billion, up from the previously published 0.4 percent increase. This followed a 0.5 percent January increase. Machinery, up sixteen consecutive months, led the increase, $0.8 billion or 1.0 percent to $80.5 billion. Inventories of manufactured nondurable goods, up sixteen of the last seventeen months, increased $2.8 billion or 0.9 percent to $306.2 billion. This followed a 1.2 percent January increase. Petroleum and coal products, up nine of the last ten months, led the increase, $1.7 billion or 3.7 percent to $48.1 billion. By stage of fabrication, February materials and supplies increased 1.0 percent in durable goods and 0.1 percent in nondurable goods. Work in process increased 0.3 percent in durable goods and 2.1 percent in nondurable goods. Finished goods increased 0.1 percent in durable goods and 1.0 percent in nondurable goods.
Posted: April 4, 2022 Monday 10:00 AM