Orders contracted 2 percent in January, better than the 2.2 percent drop expected by economists.
Excluding transportation, orders rose 1.3 percent.
December's 1.8 percent growth figure was revised down to 1.3 percent.
Below is a summary of the data, taken from the release:
New orders for manufactured goods in January, down two of the last three months, decreased $9.6 billion or 2.0 percent to $472.9 billion, the U.S. Census Bureau reported today. This followed a 1.3 percent December increase. Excluding transportation, new orders increased
1.3 percent.
Shipments, down two consecutive months, decreased $1.0 billion or 0.2 percent to $481.8 billion. This followed a slight December decrease. Unfilled orders, down following four consecutive monthly increases, decreased $2.0 billion or 0.2 percent to $988.9 billion. This followed a 0.7 percent December increase. The unfilled orders-to-shipments ratio was 6.27, up from 6.15 in December.
Inventories, up two consecutive months, increased $3.2 billion or 0.5 percent to $618.4 billion. This followed a slight December increase. The inventories-to-shipments ratio was 1.28, up from 1.27 in December.