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- Factory Orders -2.0 vs -2.2 Consensus
- Excluding Transportation = +1.3
- Market Reaction: no immediate reaction to the data itself, but improving just slightly as European markets weaken (lower Bund yields, falling Euro).

New orders for manufactured goods in January, down two of the last three months, decreased $9.6 billion or 2.0 percent to $472.9 billion, the U.S. Census Bureau reported today. This followed a 1.3 percent December increase. Excluding transportation, new orders increased 1.3 percent.

Shipments, down two consecutive months, decreased $1.0 billion or 0.2 percent to $481.8 billion. This followed a slight December decrease.

Unfilled orders, down following four consecutive monthly increases, decreased $2.0 billion or 0.2 percent to $988.9 billion. This followed a 0.7 percent December increase. The unfilled orders-to-shipments ratio was 6.27, up from 6.15 in December.

Inventories, up two consecutive months, increased $3.2 billion or 0.5 percent to $618.4 billion. This followed a slight December increase. The inventories- to-shipments ratio was 1.28, up from 1.27 in December.

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