Orders for Manufactured Goods Declined 3.6% in January

Washington, DC, March 5, 2024-New orders for manufactured goods in January, down three of the last four months, decreased $21.5 billion or 3.6% to $569.7 billion, the U.S. Census Bureau reported. This followed a 0.3% December decrease.

Shipments, down four of the last five months, decreased $5.7 billion or 1.0% to $572.3 billion. This followed a 0.5% December decrease. Unfilled orders, up thirteen of the last fourteen months, increased $2.1 billion or 0.2 percent to $1,395.1 billion. This followed a 1.3% December increase.

The unfilled orders-to-shipments ratio was 7.18, up from 7.10 in December. Inventories, down two consecutive months, decreased $0.8 billion or 0.1% to $855.8 billion. This followed a virtually unchanged December decrease. The inventories-to-shipments ratio was 1.50, up from 1.48 in December.