US: Factory orders increased by 0.1% in January vs +0.3% expected

The data published by the U.S. Census Bureau on Tuesday revealed that new orders for manufactured goods in January increased by 0.1% in January to $500.5 billion and fell short of the market expectation for a 0.3% growth.

Key takeaways from the press release

• Shipments, down four consecutive months, decreased $1.8 billion or 0.4 percent to $503.1 billion. 
• Unfilled orders, up following three consecutive monthly decreases, increased $1.4 billion or 0.1 percent to $1,181.9 billion.
• The unfilled orders‐to‐shipments ratio was 6.57, up from 6.55 in December.  
• Inventories, up twenty‐six of the last twenty‐seven months, increased $3.6 billion or 0.5 percent to $685.7 billion. 
• The inventories‐to‐shipments ratio was 1.36, up from 1.35 in December.