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New Bookings on the rise again

U.S. Factory Orders Economic Indicators



U.S. Factory orders continued to rise after recent weakness, as bookings outgrow production.Orders for U.S.-made products increased in March on the seasonally adjusted basis by 1.35 % to $585 billions, an increase of $7.8 billions from $577 in February, reported by the Commerce Department. The rise in demand last month was lead by transportation and defense, but almost every sector tracked by the Commerce Department reported an increase.
The growth in the manufacturing sector indicates that the recent decline in new orders is a temporary lull - but another poor report could renew worries over the U.S. growth. From Feb. 2023, bookings jumped by 9.43 % and shipments by 7.91 %.



In March total factory inventories declined by -0.01 % to $858 billions, a decrease by $0 billions from $858 in February on the seasonally adjusted basis, led by -2.58 % decline in household appliances inventories, representing 0.41 % of total inventories. Inventory to shipments ratio fell to 1.47 from 1.47 in the previous month.


Another category of orders closely watched by economists, known as excluding defense and transportation, orders have climbed less than total orders by 1.16 % on the seasonally adjusted basis and inventories by 1.16 % %. From Feb. 2023, Excluding defense and transportation jumped by 10.08 % and inventories by 6.26 %.


Factory Orders (Picture Autor: Wolfgang Meinhart) licence GNU

Durable Goods New Orders
Primary Metals New Orders
Machinery New Orders
Transp. Equip. New Orders
2.00% 5.82% -0.15% 31.66% -0.34% -1.50% 6.11% 7.58%
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y


Unfilled orders have rebounded from decline in previous period, unfilled orders surged by 0.33 % on the seasonally adjusted basis, led by 0.97 % growth in turbines, generators and other power transmission equipment inventories, representing 1.45 % of total inventories. Compare to a year ago Unfilled orders soared by 20.93 %.
Shipments increased in March by 0.30 % to $583 billions, an increase of $2 billions from $582 in February on the seasonally adjusted basis, reported by the U.S. Commerce Department. Shipments excluding transportation grew by 0.45 %.


   
New Orders / Shipments Ratio Inventory / Shipments Ratio
Total New orders / shipments ratio for all manufacturing industries was 1.00. Excluding transportation new orders / shipments ratio was 0.99. Excluding defense new orders / shipments ratio was 1.00 . 
Inventory / shipments ratio for all manufacturing industries was 1.47. Excluding transportation Inventory / shipments ratio was 1.39. Excluding defense Inventory / shipments ratio was 1.46.
 




Factory Shipments
(Seasonally Adjusted, in millions $)
March 2024
adv.
Feb. 2024
adv.
Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
All manufacturing industries
583,302 581,575 572,320 580,992 580,718 577,765
Excluding transportation
493,955 491,755 485,986 491,429 490,484 489,405
Excluding defense
566,828 564,971 555,926 564,957 564,308 561,437
With unfilled orders
194,278 196,225 194,341 196,806 197,703 196,541
Durable goods industries
282,066 282,561 278,903 282,099 283,083 280,439
Primary metals
26,408 26,534 26,287 26,728 26,570 26,349
Iron & steel mills
14,723 14,822 14,846 15,172 14,716 14,503
Aluminum & nonferrous metals
10,106 10,087 9,819 9,907 10,180 10,164
Ferrous metal foundries
1,579 1,625 1,622 1,649 1,674 1,682
Fabricated metal products
36,393 36,445 36,314 36,426 36,329 35,987
Machinery
37,897 37,756 38,168 37,545 37,978 38,244
Construction machinery
4,448 4,413 4,580 4,424 4,473 4,567
Mining, oil field, & gas field machinery
1,659 1,599 1,631 1,640 1,768 1,728
Industrial machinery
3,703 3,859 4,100 3,753 3,883 3,652
Photographic equipment
632 663 640 646 611 641
Ventilation, heating, air-conditioning, & refrigeration equipment
5,177 5,219 5,133 5,149 5,181 5,198
Metalworking machinery
2,689 2,771 2,869 2,646 2,738 2,759
Turbines, generators, & other power transmission equipment
3,814 3,701 3,770 3,900 3,898 3,861
Material handling equipment
3,853 3,994 4,108 4,090 4,087 4,157
Computers & electronic products
29,617 29,767 29,725 29,671 29,833 29,620
Computers
990 998 972 922 938 881
Nondefense communications equipment
2,860 2,838 2,816 2,817 2,839 2,823
Defense communications equipment
201 194 199 197 201 206
Semiconductors
- - - - - -
Electronic components
4,934 5,102 5,073 4,985 4,952 4,933
Nondefense search & navigation equipment
1,632 1,602 1,650 1,635 1,635 1,622
Defense search & navigation equipment
3,431 3,417 3,392 3,353 3,413 3,343
Electromedical, measuring, & control instruments
8,821 8,803 8,930 9,111 9,060 9,025
Electrical equipment, appliances, & components
14,277 14,279 14,402 14,168 14,143 14,188
Electric lighting equipment
1,391 1,346 1,344 1,325 1,349 1,313
Household appliances
2,397 2,362 2,310 2,380 2,315 2,365
Electrical equipment
4,652 4,718 4,844 4,647 4,756 4,729
Transportation equipment
89,347 89,820 86,334 89,563 90,234 88,360
Motor vehicle bodies, parts, & trailers
28,954 28,881 29,098 29,125 28,860 28,856
Nondefense aircraft & parts
10,779 12,138 9,949 13,199 14,070 13,284
Defense aircraft & parts
4,993 5,061 4,914 4,850 4,894 4,912
Ships & boats
3,446 3,563 3,428 3,402 3,597 3,395
Furniture & related products
6,832 6,814 6,821 6,752 6,742 6,728
Nondurable goods industries
301,236 299,014 293,417 298,893 297,635 297,326




Factory New Orders
(Seasonally Adjusted, in millions $)
March 2024
adv.
Feb. 2024
adv.
Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
All manufacturing industries
584,524 576,760 569,702 594,276 592,870 576,757
Excluding transportation
488,587 486,351 479,932 487,453 485,110 484,614
Excluding defense
569,170 562,638 553,188 580,605 577,118 558,924
With unfilled orders
200,365 196,287 196,490 214,984 214,820 200,494
Durable goods industries
283,288 277,746 276,285 295,383 295,235 279,431
Primary metals
26,484 26,524 26,264 27,047 26,590 26,538
Iron & steel mills
14,680 14,918 14,730 15,234 14,790 14,745
Aluminum & nonferrous metals
10,116 9,988 9,915 9,892 10,118 10,036
Ferrous metal foundries
1,688 1,618 1,619 1,921 1,682 1,757
Fabricated metal products
36,227 36,203 36,088 36,674 36,388 36,510
Machinery
37,467 37,594 37,114 37,399 37,511 37,664
Construction machinery
4,320 4,165 4,255 4,294 4,438 4,383
Mining, oil field, & gas field machinery
1,587 1,822 1,624 1,654 1,539 1,728
Industrial machinery
3,572 3,631 3,581 3,750 3,777 3,380
Photographic equipment
595 594 600 580 608 588
Ventilation, heating, air-conditioning, & refrigeration equipment
5,096 5,360 5,016 5,387 5,099 5,319
Metalworking machinery
2,774 2,833 2,840 2,562 2,597 2,633
Turbines, generators, & other power transmission equipment
3,909 3,937 3,982 3,844 4,070 4,054
Material handling equipment
3,897 3,994 4,082 4,102 4,027 3,976
Computers & electronic products
24,773 24,789 25,208 24,948 24,819 24,792
Computers
988 1,034 978 925 932 873
Nondefense communications equipment
2,663 2,750 2,795 3,194 2,916 2,872
Defense communications equipment
197 194 202 199 201 209
Semiconductors
- - - - - -
Electronic components
4,957 5,040 4,979 4,862 4,914 4,876
Nondefense search & navigation equipment
1,656 1,694 1,741 1,871 1,750 1,701
Defense search & navigation equipment
3,723 3,327 3,673 3,161 3,160 3,306
Electromedical, measuring, & control instruments
8,706 8,814 8,914 8,979 9,116 9,129
Electrical equipment, appliances, & components
14,218 14,273 14,319 14,382 14,070 14,086
Electric lighting equipment
1,447 1,334 1,356 1,324 1,291 1,276
Household appliances
2,412 2,597 2,380 2,448 2,376 2,434
Electrical equipment
4,570 4,589 4,700 4,833 4,631 4,543
Transportation equipment
95,937 90,409 89,770 106,823 107,760 92,143
Motor vehicle bodies, parts, & trailers
29,090 28,874 28,999 28,975 28,664 28,989
Nondefense aircraft & parts
18,409 15,200 13,729 33,211 32,347 16,146
Defense aircraft & parts
4,752 4,646 4,364 4,172 4,584 4,996
Ships & boats
3,030 1,931 3,482 2,636 3,348 3,561
Furniture & related products
6,892 6,800 6,680 6,880 6,833 6,743
Nondurable goods industries
301,236 299,014 293,417 298,893 297,635 297,326




Factory Unfilled Orders
(Seasonally Adjusted, in millions $)
March 2024
adv.
Feb. 2024
adv.
Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
All manufacturing industries
1,397,359 1,392,826 1,395,115 1,393,217 1,374,847 1,356,813
Excluding transportation
494,180 494,790 495,387 497,586 496,525 497,476
Excluding defense
1,160,657 1,154,930 1,154,103 1,152,682 1,131,137 1,112,268
With unfilled orders
- - - - - -
Durable goods industries
1,397,359 1,392,826 1,395,115 1,393,217 1,374,847 1,356,813
Primary metals
38,645 38,591 38,607 38,758 38,465 38,541
Iron & steel mills
23,526 23,583 23,466 23,665 23,690 23,673
Aluminum & nonferrous metals
10,060 10,101 10,168 10,072 10,093 10,162
Ferrous metal foundries
5,059 4,907 4,973 5,021 4,682 4,706
Fabricated metal products
129,149 129,300 129,641 130,098 129,866 129,970
Machinery
134,819 135,283 135,508 136,839 137,018 137,580
Construction machinery
9,393 9,504 9,760 10,165 10,302 10,330
Mining, oil field, & gas field machinery
4,790 4,862 4,639 4,646 4,637 4,866
Industrial machinery
10,359 10,510 10,780 11,327 11,300 11,432
Photographic equipment
3,459 3,484 3,582 3,623 3,702 3,706
Ventilation, heating, air-conditioning, & refrigeration equipment
13,811 13,969 13,790 13,989 13,712 13,826
Metalworking machinery
9,320 9,177 9,078 9,099 9,180 9,341
Turbines, generators, & other power transmission equipment
33,518 33,423 33,187 32,981 33,037 32,865
Material handling equipment
19,012 18,976 18,986 19,052 19,057 19,135
Computers & electronic products
135,104 135,125 135,259 135,125 134,890 134,982
Computers
1,312 1,314 1,278 1,272 1,269 1,275
Nondefense communications equipment
17,163 17,456 17,552 17,695 17,204 17,126
Defense communications equipment
235 242 244 240 236 236
Semiconductors
- - - - - -
Electronic components
16,239 16,195 16,233 16,333 16,494 16,532
Nondefense search & navigation equipment
32,061 32,067 31,996 32,009 31,717 31,595
Defense search & navigation equipment
36,066 35,647 35,759 35,423 35,636 35,927
Electromedical, measuring, & control instruments
32,028 32,204 32,197 32,153 32,334 32,291
Electrical equipment, appliances, & components
43,776 43,857 43,742 43,957 43,630 43,859
Electric lighting equipment
3,829 3,764 3,742 3,730 3,731 3,830
Household appliances
5,788 5,814 5,481 5,430 5,328 5,257
Electrical equipment
21,848 21,911 21,992 22,225 21,913 22,138
Transportation equipment
903,179 898,036 899,728 895,631 878,322 859,337
Motor vehicle bodies, parts, & trailers
34,747 34,700 34,812 34,969 35,156 35,471
Nondefense aircraft & parts
657,053 650,512 648,917 644,664 623,769 603,803
Defense aircraft & parts
70,831 71,085 71,680 72,146 73,117 73,465
Ships & boats
52,814 53,234 55,265 55,212 56,114 56,405
Furniture & related products
10,721 10,645 10,649 10,818 10,649 10,547
Nondurable goods industries
- - - - - -




Factory Total Inventories
(Seasonally Adjusted, in millions $)
March 2024
adv.
Feb. 2024
adv.
Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
All manufacturing industries
857,684 857,734 855,786 857,691 857,083 856,987
Excluding transportation
687,696 687,613 686,812 690,047 691,048 691,086
Excluding defense
827,092 827,238 825,673 827,829 827,392 827,562
With unfilled orders
427,290 427,441 426,861 426,511 424,793 424,365
Durable goods industries
527,834 528,676 527,360 526,912 524,776 524,829
Primary metals
45,620 45,930 45,494 45,530 45,883 45,972
Iron & steel mills
26,697 27,031 26,559 26,387 26,789 26,723
Aluminum & nonferrous metals
15,703 15,683 15,734 15,920 15,876 16,026
Ferrous metal foundries
3,220 3,216 3,201 3,223 3,218 3,223
Fabricated metal products
64,604 64,664 64,688 64,748 64,800 64,679
Machinery
94,952 95,257 95,487 95,672 94,920 95,069
Construction machinery
9,851 9,982 9,978 10,052 9,817 9,833
Mining, oil field, & gas field machinery
5,500 5,509 5,689 5,893 5,879 5,977
Industrial machinery
11,024 11,140 11,150 11,065 11,149 11,156
Photographic equipment
1,397 1,425 1,430 1,439 1,440 1,448
Ventilation, heating, air-conditioning, & refrigeration equipment
9,537 9,568 9,661 9,848 9,821 9,723
Metalworking machinery
7,515 7,570 7,485 7,559 7,464 7,432
Turbines, generators, & other power transmission equipment
12,448 12,328 12,347 12,057 12,064 12,162
Material handling equipment
8,125 8,071 8,088 8,096 7,924 7,932
Computers & electronic products
55,334 55,480 55,400 55,598 55,440 55,330
Computers
1,880 1,894 1,860 1,876 1,837 1,818
Nondefense communications equipment
4,340 4,327 4,321 4,350 4,411 4,398
Defense communications equipment
643 645 642 639 638 635
Semiconductors
- - - - - -
Electronic components
10,314 10,453 10,422 10,607 10,745 10,754
Nondefense search & navigation equipment
4,290 4,308 4,293 4,299 4,311 4,294
Defense search & navigation equipment
3,475 3,478 3,436 3,424 3,405 3,370
Electromedical, measuring, & control instruments
19,376 19,317 19,277 19,320 19,157 19,140
Electrical equipment, appliances, & components
25,961 26,043 26,087 26,551 26,472 26,442
Electric lighting equipment
2,414 2,430 2,446 2,434 2,488 2,535
Household appliances
3,548 3,642 3,622 3,727 3,655 3,550
Electrical equipment
9,820 9,795 9,845 10,062 9,978 10,110
Transportation equipment
169,988 170,121 168,974 167,644 166,035 165,901
Motor vehicle bodies, parts, & trailers
35,834 35,999 36,402 36,446 36,446 36,398
Nondefense aircraft & parts
81,806 81,331 80,854 79,881 78,659 78,300
Defense aircraft & parts
14,064 14,028 14,043 13,982 13,919 14,081
Ships & boats
4,796 4,826 4,650 4,599 4,930 4,679
Furniture & related products
10,038 9,988 10,111 10,069 10,166 10,263
Nondurable goods industries
329,850 329,058 328,426 330,779 332,307 332,158




Factory New Orders/ Shipments
(Seasonally Adjusted, in millions $)
March 2024
adv.
Feb. 2024
adv.
Jan. 2024
adv.
Dec. 2023
adv.
Nov. 2023
adv.
Oct. 2023
adv.
All manufacturing industries
1.00 0.99 1.00 1.02 1.02 1.00
Excluding transportation
0.99 0.99 0.99 0.99 0.99 0.99
Excluding defense
1.00 1.00 1.00 1.03 1.02 1.00
With unfilled orders
1.03 1.00 1.01 1.09 1.09 1.02
Durable goods industries
1.00 0.98 0.99 1.05 1.04 1.00
Primary metals
1.00 1.00 1.00 1.01 1.00 1.01
Iron & steel mills
1.00 1.01 0.99 1.00 1.01 1.02
Aluminum & nonferrous metals
1.00 0.99 1.01 1.00 0.99 0.99
Ferrous metal foundries
1.07 1.00 1.00 1.16 1.00 1.04
Fabricated metal products
1.00 0.99 0.99 1.01 1.00 1.01
Machinery
0.99 1.00 0.97 1.00 0.99 0.98
Construction machinery
0.97 0.94 0.93 0.97 0.99 0.96
Mining, oil field, & gas field machinery
0.96 1.14 1.00 1.01 0.87 1.00
Industrial machinery
0.96 0.94 0.87 1.00 0.97 0.93
Photographic equipment
0.94 0.90 0.94 0.90 1.00 0.92
Ventilation, heating, air-conditioning, & refrigeration equipment
0.98 1.03 0.98 1.05 0.98 1.02
Metalworking machinery
1.03 1.02 0.99 0.97 0.95 0.95
Turbines, generators, & other power transmission equipment
1.02 1.06 1.06 0.99 1.04 1.05
Material handling equipment
1.01 1.00 0.99 1.00 0.99 0.96
Computers & electronic products
0.84 0.83 0.85 0.84 0.83 0.84
Computers
1.00 1.04 1.01 1.00 0.99 0.99
Nondefense communications equipment
0.93 0.97 0.99 1.13 1.03 1.02
Defense communications equipment
0.98 1.00 1.02 1.01 1.00 1.01
Semiconductors
- - - - - -
Electronic components
1.00 0.99 0.98 0.98 0.99 0.99
Nondefense search & navigation equipment
1.01 1.06 1.06 1.14 1.07 1.05
Defense search & navigation equipment
1.09 0.97 1.08 0.94 0.93 0.99
Electromedical, measuring, & control instruments
0.99 1.00 1.00 0.99 1.01 1.01
Electrical equipment, appliances, & components
1.00 1.00 0.99 1.02 0.99 0.99
Electric lighting equipment
1.04 0.99 1.01 1.00 0.96 0.97
Household appliances
1.01 1.10 1.03 1.03 1.03 1.03
Electrical equipment
0.98 0.97 0.97 1.04 0.97 0.96
Transportation equipment
1.07 1.01 1.04 1.19 1.19 1.04
Motor vehicle bodies, parts, & trailers
1.00 1.00 1.00 0.99 0.99 1.00
Nondefense aircraft & parts
1.71 1.25 1.38 2.52 2.30 1.22
Defense aircraft & parts
0.95 0.92 0.89 0.86 0.94 1.02
Ships & boats
0.88 0.54 1.02 0.77 0.93 1.05
Furniture & related products
1.01 1.00 0.98 1.02 1.01 1.00
Nondurable goods industries
1.00 1.00 1.00 1.00 1.00 1.00


Source U.S. Census Bureau, Manufacturing and Construction Division
Picture Autor: (Wolfgang Meinhart) licence GNU.




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