Orders for Manufactured Goods Declined 1.6% in January

Washington, DC, March 6, 2023-New orders for manufactured goods in January, down two of the last three months, decreased $8.9 billion or 1.6% to $542.8 billion, the U.S. Census Bureau reported.

This followed a 1.7% December increase.

Shipments, up following two consecutive monthly decreases, increased $3.8 billion or 0.7% to $547.8 billion. This followed a 0.6% December decrease.

Unfilled orders, up twenty- nine consecutive months, increased $0.3 billion or virtually unchanged to $1,157.0 billion. This followed a 1.1% December increase.

The unfilled orders-to-shipments ratio was 6.07, up from 6.06 in December.

Inventories, up five consecutive months, increased $0.4 billion or virtually unchanged to $808.3 billion. This followed a 0.4% December increase. The inventories-to-shipments ratio was 1.48, down from 1.49 in December.