Orders For Manufactured Goods Declined 0.7% in February

Washington, DC, April 4, 2023-New orders for manufactured goods in February, down three of the last four months, decreased $3.9 billion or 0.7% to $536.4 billion, the U.S. Census Bureau reported. This followed a 2.1% January decrease.

Shipments, also down three of the last four months, decreased $2.8 billion or 0.5% to $542.8 billion. This followed a 0.3% January increase.

Unfilled orders, down following twenty-nine consecutive monthly increases, decreased $1.1 billion or 0.1% to $1,155.6 billion. This followed a virtually unchanged January increase.

The unfilled orders-to-shipments ratio was 6.10, up from 6.09 in January.

Inventories, down two consecutive months, decreased $0.8 billion or 0.1% to $806.3 billion. This followed a 0.1% January decrease. The inventories-to-shipments ratio was 1.49, up from 1.48 in January.