ECON: Factory Orders Roughly In Line With Expectations
- 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
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.