Source: US Census Bureau
New orders for US-made manufactured goods grew at a faster pace in January, marking the ninth straight month of expansion. QQQ is up 0.56%.
- New orders increased by $7.6 billion or 1.4% to $544 billion from $536.7 billion in the previous month.
- Durable goods climbed 1.6% to $277.6 billion, transportation up 3.4% to $87.7 billion, and nondurable goods up 1.2% to $266.7 billion.
- Shipments grew by $2.9 billion or 1.1% to $270.3 billion, slower than the 1.3% increase in December.
- Growth was led by machinery up 2.7% to $38.9 billion, nondurable goods up 1.2% to $266.7 billion, and petroleum and coal up 2.8% to $58.6 billion.
- Unfilled orders jumped by $11.7 billion or 0.9% to $1.283 trillion, unchanged from the earlier announced figures.
- The increase was led by transportation equipment which grew by 1.1% to $848.8 billion.
- Inventories of durable goods inched up by $2.1 billion or 0.4% to $476.3 billion, led mainly by machinery at $79.5 billion.
- Increases were also seen in nondurable goods inventories up by $3.5 billion or 1.2% to $303.3 billion.
- New orders for December were revised at $536.7 billion, reflecting a 0.7% growth.