Updated: 02-Apr-25 10:22 ET
| February Factory Orders |
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| Updated: 02-Apr-25 10:22 ET |
Highlights
- Factory orders rose 0.6% month-over-month in February (Briefing.com consensus 0.4%) after increasing an upwardly revised 1.8% (from 1.7%) in January.
- Excluding transportation, factory orders were up 0.4% after increasing 0.3% in January.
- Shipments of manufactured goods were up 1.2% after increasing 0.7% in January.
Key Factors
- Durable goods orders rose 1.0% after increasing 3.4% in January, led by a 12.7% jump in gas field machinery orders.
- New orders for nondurable goods rose 0.3% after increasing 0.3% in January.
- New orders for nondefense capital goods excluding aircraft-a proxy for business spending-were down 0.2% after increasing 1.0% in January.
- The inventory-to-shipments ratio dipped to 1.45 from 1.46 in January.
Big Picture
- The key takeaway from the report is that new orders for nondefense capital goods excluding aircraft, which are considered a proxy for business spending, decreased 0.2% despite the headline beat.
| Category | FEB | JAN | DEC | NOV | OCT |
| Factory Orders | 0.6% | 1.8% | -0.6% | -0.8% | 0.5% |
| Less Defense | 0.5% | 1.9% | -0.6% | -0.4% | 0.5% |
| Durable Goods | 1.0% | 3.4% | -1.8% | -2.0% | 0.7% |
| Nondurable Goods | 0.3% | 0.3% | 0.5% | 0.4% | 0.2% |
| Unfilled Factory Orders | 0.1% | 0.2% | -0.3% | 0.2% | 0.5% |
| Factory Shipments | 0.7% | 0.5% | 0.6% | 0.1% | -0.2% |
| Factory Inventories | 0.1% | 0.1% | 0.3% | 0.4% | -0.1% |
| Inventory/Shipment Ratio | 1.45 | 1.46 | 1.46 | 1.47 | 1.46 |
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