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Factory orders grew again in March

U.S. Factory Orders Economic Indicators



New orders are on the rise again, after recent weakness, but Shipments of durable goods fell by -0.12 % to $540 billions.In March Orders for U.S.-made products jumped by 0.91 % to $539 billions, an increase of $4.9 billions from $534 in February on the seasonally adjusted basis, as orders for aircrafts and parts grew 78.34 % to $ billions, reported by the U.S. 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 expansion in factory orders is an encouraging sign, particularly in light of the loss of momentum in the manufacturing sector evident in recent survey reports. Bookings advanced by 1.56 % for the year, but durable goods unfilled orders fell by -10.43 %.



In March total manufacturing shipments declined by -0.12 % to $540 billions, a decrease by $1 billions from $541 in February on the seasonally adjusted basis, as shipments for mining and oil field machinery decreased -12.63 % to $2 billions. Excluding transportation shipments fell by -0.87 %.

In February factory orders were revised to -1.14 % decline to $534 billions and manufacturing shipments to $541 billions a decrease of -0.93 %.



Factory Orders (Picture Autor: Wolfgang Meinhart) licence GNU

Durable Goods New Orders
Primary Metals New Orders
Machinery New Orders
Transp. Equip. New Orders
3.18% 2.99% 0.21% -19.16% -0.26% -0.96% 9.05% 21.10%
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y
M/M
Y/Y

Excluding defense and transportation, which the government uses to help calculate quarterly reports on U.S. growth, orders increased by 0.96 % and accelerated on the seasonally adjusted basis, but shipments fell by -0.09 %.
Orders excluding defense and transportation are considered the best gauge of capital spending by businesses.
Excluding defense and transportation rose by 0.84 %, but inventories fell by -0.03 % over the past 12 months.
Inventories sunk by -0.77 % to $799 billions, a decrease by $6 billions from $806 in February on the seasonally adjusted basis. Inventory to shipments ratio fell to 1.48 from 1.49 in the previous month.

Unfilled orders continue to grow by higher rate, unfilled orders surged by 0.37 % on the seasonally adjusted basis, led by 2.60 % increase in heating, air-conditioning and refrigeration equipment, accounting for 1.11 % of total factory unfilled orders. total factory inventories dropped by -10.43 % from March 2022.


   
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 1.48. Excluding transportation Inventory / shipments ratio was 1.44. Excluding defense Inventory / shipments ratio was 1.48.
 




Factory Shipments
(Seasonally Adjusted, in millions $)
March 2023
adv.
Feb. 2023
rest.
Jan. 2023
final
Dec. 2022
adv.
Nov. 2022
rest.
Oct. 2022
final
All manufacturing industries
539,889 540,525 545,595 543,320 547,319 552,057
Excluding transportation
446,642 450,569 454,098 449,589 455,081 460,963
Excluding defense
523,210 523,678 528,496 526,138 530,721 535,587
With unfilled orders
191,900 188,996 189,905 190,727 190,194 189,542
Durable goods industries
277,097 274,082 276,335 277,418 276,262 275,285
Primary metals
20,235 20,190 20,200 19,918 20,015 20,251
Iron & steel mills
12,042 11,885 11,732 11,834 11,816 11,980
Aluminum & nonferrous metals
6,573 6,671 6,851 6,592 6,714 6,763
Ferrous metal foundries
1,620 1,634 1,617 1,492 1,485 1,508
Fabricated metal products
36,476 36,378 36,281 36,498 36,441 36,544
Machinery
37,947 38,303 38,516 38,222 38,631 38,825
Construction machinery
4,096 3,988 4,115 3,946 3,987 3,966
Mining, oil field, & gas field machinery
1,625 1,860 1,604 1,576 1,487 1,577
Industrial machinery
6,016 6,210 6,244 5,881 6,061 6,321
Photographic equipment
526 517 525 543 517 522
Ventilation, heating, air-conditioning, & refrigeration equipment
4,753 4,797 4,892 4,826 4,820 4,756
Metalworking machinery
2,557 2,667 2,623 2,668 2,769 2,624
Turbines, generators, & other power transmission equipment
3,718 3,527 3,444 3,516 3,419 3,511
Material handling equipment
3,604 3,587 3,659 3,565 3,606 3,595
Computers & electronic products
29,371 29,467 29,571 29,551 29,592 29,552
Computers
776 798 807 720 735 732
Nondefense communications equipment
2,909 2,961 2,928 3,002 3,006 3,053
Defense communications equipment
218 220 218 216 214 214
Semiconductors
- - - - - -
Electronic components
4,636 4,731 4,645 4,579 4,651 4,602
Nondefense search & navigation equipment
1,631 1,661 1,673 1,671 1,679 1,666
Defense search & navigation equipment
3,266 3,277 3,285 3,341 3,286 3,277
Electromedical, measuring, & control instruments
8,779 8,693 8,668 8,789 8,848 8,965
Electrical equipment, appliances, & components
14,216 14,072 14,217 13,717 13,732 13,478
Electric lighting equipment
1,100 1,087 1,078 1,067 1,061 1,046
Household appliances
2,667 2,681 2,742 2,687 2,661 2,752
Electrical equipment
4,247 4,179 4,313 4,019 4,094 3,839
Transportation equipment
93,247 89,956 91,497 93,731 92,238 91,094
Motor vehicle bodies, parts, & trailers
27,470 27,490 27,519 27,353 27,393 27,332
Nondefense aircraft & parts
15,537 12,204 12,586 14,541 14,088 13,133
Defense aircraft & parts
5,448 5,492 5,758 5,666 5,425 5,384
Ships & boats
3,792 3,791 3,774 3,684 3,597 3,572
Furniture & related products
6,211 6,233 6,324 6,258 6,243 6,257
Nondurable goods industries
262,792 266,443 269,260 265,902 271,057 276,772




Factory New Orders
(Seasonally Adjusted, in millions $)
March 2023
adv.
Feb. 2023
rest.
Jan. 2023
final
Dec. 2022
adv.
Nov. 2022
rest.
Oct. 2022
final
All manufacturing industries
539,009 534,148 540,321 552,484 542,460 553,138
Excluding transportation
441,759 444,967 448,214 444,455 450,031 455,686
Excluding defense
522,023 517,053 522,070 535,238 524,602 536,370
With unfilled orders
196,146 187,798 189,939 205,173 190,510 195,690
Durable goods industries
276,217 267,705 271,061 286,582 271,403 276,366
Primary metals
20,158 20,115 20,140 19,964 20,059 20,125
Iron & steel mills
11,981 11,873 11,670 11,959 11,884 11,975
Aluminum & nonferrous metals
6,574 6,613 6,904 6,510 6,645 6,631
Ferrous metal foundries
1,603 1,629 1,566 1,495 1,530 1,519
Fabricated metal products
36,263 36,215 35,936 36,343 36,319 36,382
Machinery
37,941 38,038 38,481 38,320 38,978 39,199
Construction machinery
4,073 3,686 3,801 3,848 4,028 3,958
Mining, oil field, & gas field machinery
1,564 1,889 1,618 1,591 1,482 1,599
Industrial machinery
5,885 6,191 6,483 5,989 6,234 6,305
Photographic equipment
589 593 532 522 559 532
Ventilation, heating, air-conditioning, & refrigeration equipment
5,080 4,809 5,004 4,962 5,036 4,965
Metalworking machinery
2,552 2,635 2,610 2,561 2,620 2,563
Turbines, generators, & other power transmission equipment
3,631 3,565 3,281 3,535 3,376 3,561
Material handling equipment
3,621 3,622 3,760 3,667 3,716 3,755
Computers & electronic products
24,738 24,237 24,187 24,186 24,315 24,188
Computers
791 792 827 719 717 733
Nondefense communications equipment
2,834 2,833 2,925 3,016 2,888 2,843
Defense communications equipment
209 215 212 199 206 216
Semiconductors
- - - - - -
Electronic components
4,562 4,613 4,468 4,530 4,524 4,454
Nondefense search & navigation equipment
1,807 1,795 1,731 1,882 1,789 1,689
Defense search & navigation equipment
3,743 3,337 3,268 3,072 3,288 3,258
Electromedical, measuring, & control instruments
8,762 8,705 8,717 8,817 8,905 9,019
Electrical equipment, appliances, & components
14,327 14,220 14,179 13,956 13,809 13,678
Electric lighting equipment
1,134 1,103 1,057 1,131 1,141 1,099
Household appliances
2,763 2,891 2,840 2,845 2,838 2,868
Electrical equipment
4,148 4,107 4,264 3,867 3,869 3,823
Transportation equipment
97,250 89,181 92,107 108,029 92,429 97,452
Motor vehicle bodies, parts, & trailers
27,519 27,674 27,573 27,180 27,369 27,327
Nondefense aircraft & parts
19,666 11,027 12,037 28,875 13,401 19,334
Defense aircraft & parts
6,107 5,574 6,048 5,652 4,908 5,267
Ships & boats
2,799 3,336 4,047 4,141 3,969 3,239
Furniture & related products
6,168 6,248 6,349 6,252 6,112 6,084
Nondurable goods industries
262,792 266,443 269,260 265,902 271,057 276,772




Factory Unfilled Orders
(Seasonally Adjusted, in millions $)
March 2023
adv.
Feb. 2023
rest.
Jan. 2023
final
Dec. 2022
adv.
Nov. 2022
rest.
Oct. 2022
final
All manufacturing industries
1,159,722 1,155,476 1,156,674 1,158,011 1,143,565 1,143,249
Excluding transportation
471,966 471,723 472,146 473,070 472,922 472,797
Excluding defense
942,030 938,091 939,537 942,357 927,975 928,919
With unfilled orders
- - - - - -
Durable goods industries
1,159,722 1,155,476 1,156,674 1,158,011 1,143,565 1,143,249
Primary metals
30,344 30,421 30,496 30,599 30,553 30,509
Iron & steel mills
16,068 16,129 16,141 16,273 16,148 16,080
Aluminum & nonferrous metals
10,147 10,146 10,204 10,104 10,186 10,255
Ferrous metal foundries
4,129 4,146 4,151 4,222 4,219 4,174
Fabricated metal products
116,519 116,732 116,895 117,335 117,490 117,612
Machinery
132,985 132,991 133,256 133,472 133,374 133,027
Construction machinery
9,020 9,043 9,345 9,747 9,845 9,804
Mining, oil field, & gas field machinery
5,166 5,227 5,198 5,192 5,177 5,182
Industrial machinery
13,083 13,214 13,233 12,989 12,881 12,708
Photographic equipment
3,301 3,238 3,162 3,134 3,155 3,113
Ventilation, heating, air-conditioning, & refrigeration equipment
12,902 12,575 12,563 12,462 12,326 12,110
Metalworking machinery
8,213 8,218 8,250 8,265 8,372 8,521
Turbines, generators, & other power transmission equipment
33,047 33,134 33,096 33,259 33,240 33,283
Material handling equipment
17,602 17,585 17,550 17,507 17,405 17,295
Computers & electronic products
140,433 139,940 139,991 140,066 140,149 140,251
Computers
1,206 1,191 1,197 1,180 1,181 1,199
Nondefense communications equipment
20,449 20,524 20,652 20,607 20,593 20,711
Defense communications equipment
270 279 284 290 307 315
Semiconductors
- - - - - -
Electronic components
15,373 15,447 15,565 15,795 15,844 15,971
Nondefense search & navigation equipment
32,951 32,775 32,641 32,605 32,394 32,284
Defense search & navigation equipment
38,727 38,250 38,190 38,194 38,463 38,461
Electromedical, measuring, & control instruments
31,457 31,474 31,462 31,395 31,367 31,310
Electrical equipment, appliances, & components
40,590 40,479 40,331 40,426 40,187 40,110
Electric lighting equipment
2,492 2,458 2,442 2,467 2,403 2,323
Household appliances
5,529 5,433 5,223 5,205 5,047 4,870
Electrical equipment
16,352 16,451 16,523 16,484 16,636 16,861
Transportation equipment
687,756 683,753 684,528 684,941 670,643 670,452
Motor vehicle bodies, parts, & trailers
27,886 27,837 27,653 27,571 27,744 27,768
Nondefense aircraft & parts
468,433 464,304 465,481 467,375 453,041 453,728
Defense aircraft & parts
60,873 60,214 60,132 59,628 59,642 60,159
Ships & boats
50,583 51,576 52,031 51,655 51,198 50,826
Furniture & related products
9,789 9,832 9,817 9,765 9,771 9,902
Nondurable goods industries
- - - - - -




Factory Total Inventories
(Seasonally Adjusted, in millions $)
March 2023
adv.
Feb. 2023
rest.
Jan. 2023
final
Dec. 2022
adv.
Nov. 2022
rest.
Oct. 2022
final
All manufacturing industries
799,379 805,607 807,050 807,785 804,816 804,577
Excluding transportation
645,145 647,113 648,826 649,264 647,875 647,801
Excluding defense
772,124 778,393 779,798 780,768 777,834 777,999
With unfilled orders
391,655 395,668 395,580 396,328 392,519 391,124
Durable goods industries
488,845 493,080 492,777 493,578 490,125 489,302
Primary metals
38,206 38,380 38,381 38,419 38,256 38,464
Iron & steel mills
22,466 22,491 22,505 22,367 22,254 22,432
Aluminum & nonferrous metals
12,934 13,090 13,057 13,262 13,222 13,276
Ferrous metal foundries
2,806 2,799 2,819 2,790 2,780 2,756
Fabricated metal products
62,198 62,128 62,253 62,391 62,378 62,357
Machinery
89,120 88,908 88,663 88,364 87,111 86,592
Construction machinery
7,893 7,938 7,949 7,796 7,655 7,457
Mining, oil field, & gas field machinery
6,808 6,807 6,755 6,534 6,493 6,405
Industrial machinery
11,421 11,428 11,453 11,714 11,468 11,179
Photographic equipment
1,445 1,421 1,415 1,409 1,417 1,406
Ventilation, heating, air-conditioning, & refrigeration equipment
8,477 8,446 8,427 8,549 8,322 8,120
Metalworking machinery
7,003 6,951 6,972 6,866 6,761 6,811
Turbines, generators, & other power transmission equipment
11,177 11,139 11,096 10,839 10,677 10,699
Material handling equipment
7,484 7,459 7,377 7,329 7,200 7,094
Computers & electronic products
52,850 52,926 53,069 53,233 53,082 53,051
Computers
1,999 1,966 2,057 2,136 2,140 2,129
Nondefense communications equipment
4,792 4,798 4,862 4,910 4,798 4,762
Defense communications equipment
664 667 661 659 655 655
Semiconductors
- - - - - -
Electronic components
9,523 9,709 9,876 10,108 10,174 10,210
Nondefense search & navigation equipment
3,528 3,539 3,519 3,541 3,521 3,482
Defense search & navigation equipment
2,824 2,821 2,836 2,839 2,841 2,832
Electromedical, measuring, & control instruments
18,441 18,378 18,321 18,226 18,136 18,064
Electrical equipment, appliances, & components
23,937 23,852 23,745 23,930 23,713 23,419
Electric lighting equipment
2,108 2,115 2,120 2,128 2,120 2,111
Household appliances
3,207 3,197 3,140 3,309 3,209 3,190
Electrical equipment
8,367 8,332 8,318 8,346 8,232 8,063
Transportation equipment
154,234 158,494 158,224 158,521 156,941 156,776
Motor vehicle bodies, parts, & trailers
32,569 32,796 32,907 32,632 32,397 32,335
Nondefense aircraft & parts
71,772 75,842 75,559 76,505 74,648 74,831
Defense aircraft & parts
13,022 12,890 12,943 12,781 12,831 12,772
Ships & boats
4,499 4,653 4,679 4,767 4,762 4,639
Furniture & related products
9,958 9,930 9,974 10,091 10,040 10,023
Nondurable goods industries
310,534 312,527 314,273 314,207 314,691 315,275




Factory New Orders/ Shipments
(Seasonally Adjusted, in millions $)
March 2023
adv.
Feb. 2023
rest.
Jan. 2023
final
Dec. 2022
adv.
Nov. 2022
rest.
Oct. 2022
final
All manufacturing industries
1.00 0.99 0.99 1.02 0.99 1.00
Excluding transportation
0.99 0.99 0.99 0.99 0.99 0.99
Excluding defense
1.00 0.99 0.99 1.02 0.99 1.00
With unfilled orders
1.02 0.99 1.00 1.08 1.00 1.03
Durable goods industries
1.00 0.98 0.98 1.03 0.98 1.00
Primary metals
1.00 1.00 1.00 1.00 1.00 0.99
Iron & steel mills
0.99 1.00 0.99 1.01 1.01 1.00
Aluminum & nonferrous metals
1.00 0.99 1.01 0.99 0.99 0.98
Ferrous metal foundries
0.99 1.00 0.97 1.00 1.03 1.01
Fabricated metal products
0.99 1.00 0.99 1.00 1.00 1.00
Machinery
1.00 0.99 1.00 1.00 1.01 1.01
Construction machinery
0.99 0.92 0.92 0.98 1.01 1.00
Mining, oil field, & gas field machinery
0.96 1.02 1.01 1.01 1.00 1.01
Industrial machinery
0.98 1.00 1.04 1.02 1.03 1.00
Photographic equipment
1.12 1.15 1.01 0.96 1.08 1.02
Ventilation, heating, air-conditioning, & refrigeration equipment
1.07 1.00 1.02 1.03 1.04 1.04
Metalworking machinery
1.00 0.99 1.00 0.96 0.95 0.98
Turbines, generators, & other power transmission equipment
0.98 1.01 0.95 1.01 0.99 1.01
Material handling equipment
1.00 1.01 1.03 1.03 1.03 1.04
Computers & electronic products
0.84 0.82 0.82 0.82 0.82 0.82
Computers
1.02 0.99 1.02 1.00 0.98 1.00
Nondefense communications equipment
0.97 0.96 1.00 1.00 0.96 0.93
Defense communications equipment
0.96 0.98 0.97 0.92 0.96 1.01
Semiconductors
- - - - - -
Electronic components
0.98 0.98 0.96 0.99 0.97 0.97
Nondefense search & navigation equipment
1.11 1.08 1.03 1.13 1.07 1.01
Defense search & navigation equipment
1.15 1.02 0.99 0.92 1.00 0.99
Electromedical, measuring, & control instruments
1.00 1.00 1.01 1.00 1.01 1.01
Electrical equipment, appliances, & components
1.01 1.01 1.00 1.02 1.01 1.01
Electric lighting equipment
1.03 1.01 0.98 1.06 1.08 1.05
Household appliances
1.04 1.08 1.04 1.06 1.07 1.04
Electrical equipment
0.98 0.98 0.99 0.96 0.95 1.00
Transportation equipment
1.04 0.99 1.01 1.15 1.00 1.07
Motor vehicle bodies, parts, & trailers
1.00 1.01 1.00 0.99 1.00 1.00
Nondefense aircraft & parts
1.27 0.90 0.96 1.99 0.95 1.47
Defense aircraft & parts
1.12 1.01 1.05 1.00 0.90 0.98
Ships & boats
0.74 0.88 1.07 1.12 1.10 0.91
Furniture & related products
0.99 1.00 1.00 1.00 0.98 0.97
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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