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January factory orders data are out.Orders contracted 2 per cent in January, better than the 2.2 per cent drop expected by economists.
Excluding transportation, orders rose 1.3 per cent.
December’s 1.8 per cent growth figure was revised down to 1.3 per cent.
Below is a summary of the data, taken from the release:
New orders for manufactured goods in January, down two of the last three months, decreased $9.6 billion or 2.0 per cent to $472.9 billion, the U.S. Census Bureau reported today. This followed a 1.3 per cent December increase. Excluding transportation, new orders increased
1.3 per cent.
Shipments, down two consecutive months, decreased $1.0 billion or 0.2 per cent 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 per cent to $988.9 billion. This followed a 0.7 per cent 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 per cent 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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