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Wednesday, May 12, 2021 2:23:04 PM EDT

Factory Orders Updated 04-May-21 10:18AM ET

Factory orders for manufactured goods increased 1.1% m/m in March ( consensus 0.7%) after decreasing an upwardly revised 0.5% (from -0.7%) in February.

Shipments of manufactured goods were up 2.1% after declining 1.9% in February.

New orders for durable goods rose 0.8% m/m in March after declining 0.9% in February. New orders for nondurable goods jumped 1.5% m/m in March after slipping 0.1% in February.

Nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- increased 1.2% m/m in March after falling 0.8% in February.

The inventory-to-shipments ratio dropped to 1.38 from 1.40.

The key takeaway from the report is that it suggests the recovery blip in February was largely a function of extreme winter weather and some natural slowing after a long streak of gains in factory orders. The report also demonstrates that demand for manufactured goods was quick to rebound.
Factory Orders1.1%-0.5%2.7%1.6%1.3%
Less Defense1.1%-0.3%2.1%1.8%1.3%
Durable Goods0.8%-0.9%3.6%1.2%1.3%
Nondurable Goods1.5%-0.1%1.8%2.0%1.2%
Unfilled Factory Orders0.4%0.9%0.2%-0.2%0.0%
Factory Shipments2.1%-1.9%1.8%2.1%0.8%
Factory Inventories0.7%0.8%0.2%0.3%0.8%
Inventory/Shipment Ratio1.381.401.361.381.41