US factory orders edge higher in January

(Sharecast News) - Factory orders across the United States inched higher in January, according to figures from the Census Bureau on Wednesday, registering a slight rebound after a small decline the previous month. New orders for manufactured goods totalled $620.1bn in January, a 0.1% or $0.9bn increase compared with December, when orders slipped 0.4%.

The increase was in line with the consensus forecast.

New orders for manufactured durable goods were virtually unchanged at $321.3bn, while orders for non-durable goods increased 0.3% to $298.7bn.

Meanwhile, shipments were 0.5% higher at $612.9bn, following a 0.7% gain in December, while unfilled orders rose 0.8% to $1.54trn after growing 0.9% the previous month. The unfilled orders-to-shipments ratio was flat at 7.01 in January.