Factory Orders Decreased in January

New orders for manufactured goods, down two of the last three months, decreased 0.5% to $497.9 billion in January, according to the U.S. Census Bureau.

New orders for manufactured durable goods decreased $0.4 billion or 0.2% to $246.0 billion. Transportation equipment drove the decrease, down 2.1% to $82.2 billion. New orders for manufactured nondurable goods decreased $1.9 billion or 0.8 percent to $251.9 billion.

Shipments of manufactured durable goods, down seven consecutive months, decreased 0.2% to $249.9 billion.

Inventories of manufactured durable goods remained virtually unchanged at $435.3 billion.

Read the Census release.

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About Author

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.