New orders for manufactured goods in the United States in February declined by 0.7% or $3.9 billion to $536.4 billion compared to the previous month, the US Census Bureau reported on Tuesday. The reading came below market projections.
Shipments decreased by 0.5% or $2.8 billion according to the report, reaching $542.8 billion. The data also showed that unfilled orders fell by 0.1% or $1.1 billion to come at $1.16 trillion in February.
Inventories amounted to $806.3 billion, dropping by 0.1% or $800 million for the corresponding month. The inventories-to-shipments ratio was 1.49, going above the January figure.
