Bloomberg News

U.S. February Factory Orders, Shipments and Inventories (Text)

April 03, 2012

Following are the details of Feb. full report on Manufacturers’ Shipments, Inventories and Orders from the Commerce Department.

Benchmark Notice

Revised historical data for Manufacturers’ Shipments, Inventories, and Orders will be issued on May 18, 2012. These revisions reflect:

benchmarking the shipments and inventories data to the 2010 Annual Survey of Manufactures (ASM) data, as well as revised ASM benchmarks for prior years;

incorporating the unfilled orders to shipments ratios obtained from the 2009/2010 Manufacturers’ Unfilled Orders Survey by applying these ratios to the respective ASM shipments data, as well as incorporating revised unfilled orders to shipments ratios for prior years;

adjusting the new orders data to be consistent with the benchmarked shipments and unfilled orders data;

correcting monthly data for late receipts, reclassifications of reported data, and revisions to previously reported data;

incorporating the monthly data corrections when producing estimates for industry groups for which we identified companies to be tabbed separately from the link-relative estimation procedure;

implementing a new SAS® benchmarking program, which is based on the same benchmarking methodology as the previous ASCII Fortran program; and

updating the seasonally adjusted data, based on the results of benchmarking and the recent annual review of the seasonal adjustment models.

February Text

New orders for manufactured goods in February, up three of the last four months, increased $6.0 billion or 1.3 percent to $468.4 billion, the U.S. Census Bureau reported today. This followed a 1.1 percent January decrease. Excluding transportation, new orders increased 0.9 percent.

Shipments, up nine consecutive months, increased $0.3 billion or 0.1 percent to $462.6 billion. This followed a 0.6 percent January increase.

Unfilled orders, up twenty-two of the last twenty-three months, increased $12.1 billion or 1.3 percent to $931.1 billion. This followed a 0.7 percent January increase. The unfilled orders- to-shipments ratio was 6.23, up from 6.12 in January.

Inventories, up twenty-eight of the last twenty-nine months, increased $2.2 billion or 0.4 percent to $616.8 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent January increase. The inventories-to-shipments ratio was 1.33, unchanged from January.

New Orders

New orders for manufactured durable goods in February, up four of the last five months, increased $5.0 billion or 2.4 percent to $212.5 billion, revised from the previously published 2.2 percent increase. This followed a 3.5 percent January decrease.

Transportation equipment, up three of the last four months, had the largest increase, $2.2 billion or 3.9 percent to $57.9 billion.

New orders for manufactured nondurable goods increased $1.1 billion or 0.4 percent to $255.9 billion.

Shipments

Shipments of manufactured durable goods in February, down following two consecutive monthly increases, decreased $0.7 billion or 0.4 percent to $206.7 billion, unchanged from the previously published decrease. This followed a 0.1 percent January increase.

Transportation equipment, also down following two consecutive monthly increases, had the largest decrease, $1.3 billion or 2.5 percent to $49.2 billion.

Shipments of manufactured nondurable goods, up three of the last four months, increased $1.1 billion or 0.4 percent to $255.9 billion. This followed a 1.0 percent January increase. Petroleum and coal products, also up three of the last four months, drove the increase, up $2.2 billion or 3.0 percent to $76.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in February, up twenty-two of the last twenty-three months, increased $12.1 billion or 1.3 percent to $931.1 billion, unchanged from the previously published increase. This followed a 0.7 percent January increase.

Transportation equipment, up thirteen of the last fourteen months, had the largest increase, $8.7 billion or 1.6 percent to $544.1 billion.

Inventories

Inventories of manufactured durable goods in February, up twenty-six consecutive months, increased $1.4 billion or 0.4 percent to $373.6 billion, unchanged from the previously published increase. This was at the highest level since the series was first published on a NAICS basis and followed a 0.6 percent January increase.

Machinery, up twenty-three consecutive months, had the largest increase, $0.6 billion or 1.0 percent to $62.3 billion.

Inventories of manufactured nondurable goods, up five of the last six months, increased $0.8 billion or 0.3 percent to $243.2 billion. This followed a 0.7 percent January increase. Petroleum and coal products, up six consecutive months, drove the increase, up $1.0 billion or 1.8 percent to $58.4 billion.

By stage of fabrication, February materials and supplies increased 0.2 percent in durable goods and decreased 0.5 percent in nondurable goods. Work in process increased 0.8 percent in durable goods and 1.2 percent in nondurable goods. Finished goods increased slightly in durable goods and 0.6 percent in nondurable goods.

SOURCE: U.S. Commerce Department. http://www.census.gov/m3

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net


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