Manufacturer new orders dip over half a percent
The U.S. Census Bureau reports new orders for manufactured goods in February, down three of the last four months, decreased $3.9 billion or 0.7 percent to $536.4 billion. This followed a 2.1 percent January decrease.
Shipments, also down three of the last four months, decreased $2.8 billion or 0.5 percent to $542.8 billion. This followed a 0.3 percent January increase. Unfilled orders, down following 29 consecutive monthly increases, decreased $1.1 billion or 0.1 percent to $1,155.6 billion. This followed a virtually unchanged January increase. The unfilled orders-to-shipments ratio was 6.10, up from 6.09 in January. Inventories, down two consecutive months, decreased $0.8 billion or 0.1 percent to $806.3 billion. This followed a 0.1 percent January decrease. The inventories-to-shipments ratio was 1.49, up from 1.48 in January.
Construction
Construction spending during February 2023 was estimated at a seasonally adjusted annual rate of $1,844.1 billion, 0.1 percent (±0.7 percent) below the revised January estimate of $1,845.4 billion. The February figure is 5.2 percent (±1.2 percent) above the February 2022 estimate of $1,753.1 billion. During the first two months of this year, construction spending amounted to $260.8 billion, 5.9 percent (±1.2 percent) above the $246.1 billion for the same period in 2022.
Wholesale
January 2023 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $693.8 billion, up 1.0 percent (±0.7 percent) from the revised December level and were up 3.6 percent (±0.9 percent) from the revised January 2022 level. The November 2022 to December 2022 percent change was revised from the preliminary estimate of virtually unchanged (±0.5 percent)* to down 0.2 percent (±0.5 percent)*.
Total inventories of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences, but not for price changes, were $929.0 billion at the end of January, down 0.4 percent (±0.4 percent)* from the revised December level. Total inventories were up 15.8 percent (±0.7 percent) from the revised January 2022 level. The December 2022 to January 2023 percent change was unrevised from the advance estimate of down 0.4 percent (±0.4 percent)*.
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INDUSTRIAL SUPPLY MAGAZINE
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