New orders for U.S. manufactured items remained flat throughout February month-over-month, persevering with a current pattern, as weak industrial plane orders offset features in different classes.
- Total, new orders have been nearly unchanged in February month-over-month (+$0.3 billion) to $619.6 billion after a likewise flat January and a 0.4% lower in December. Economists had anticipated a 0.2% February decline. Yr-over-year, orders elevated 3.7%.
- Core capital items orders elevated 0.7% month-over-month
- Shipments elevated 1.4% MoM to $632.2 billion after a 0.7% January enhance. Unfilled orders elevated 0.1% to $1.54 trillion after a 0.6% January enhance.
- Shipments of core capital items rose 1.0% month-over-month
- The unfilled orders-to-shipments ratio was 6.92 in February, down from 6.99 in January. Inventories ticked up 0.1% in February to $950.5 billion after a 0.1% January enhance.
- The February inventories-to-shipments ratio was 1.53, down from 1.55 in January.
Sturdy vs. Nondurable
Sturdy items
- New orders decreased 1.3% in February to $315.9 billion after January’s 0.4% lower. Transportation tools drove the lower with a 5.3% decline to $106.3 billion (fourth lower in 5 months). That was offset by wholesome features in classes of computer systems and electronics, equipment, main metals and fabricated metallic merchandise.
- Inside transportation tools, industrial plane orders plunged 28.6% month-over-month.
- Shipments elevated 1.4% to $319.5 billion after a 0.9% January enhance. Transportation tools drove the rise with a 1.6% achieve to $105.6 billion.
- Unfilled orders elevated 0.1% to $1.54 trillion after a 0.6% January enhance. Equipment led the rise with a 0.5% achieve (seventh straight enhance) to $146 billion.
- Inventories elevated 0.1% throughout February to $595.7 billion after a 0.2% January achieve. Main metals led the achieve with a 0.4% enhance to $49.4 billion (twelfth straight enhance).
Nondurable
- New orders for manufactured nondurable items elevated 1.5% to $303.7 billion.
- Shipments elevated 1.5% to $303.7 billion after a 0.5% January enhance. Petroleum and coal led the rise with a 6.2% soar to $55.8 billion.
- Inventories have been nearly unchanged to $354.7 billion after a 0.3% January lower. Petroleum and coal led the rise with a 0.5% achieve to $44.1 billion.
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