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US factory orders grow 2.6% in January

The volume of new orders for manufactured goods in the United States rose 2.6% or $13.1 billion on a monthly basis to reach $509.4 billion in January, marking a growth for the ninth consecutive month, the US Census Bureau said in a report released on Thursday. The climb was higher than analysts expected.

Meanwhile, shipments of manufactured durable goods increased by $4.9 billion or 1.9% to land at $260.6 billion in January, and unfilled orders amounted to $1,072.8 billion as it increased by 0.1% or $1.2 billion month-over-month.

The inventories-to-shipments ratio stood at 1.36, decreasing from 1.38 recorded in December.

Breaking the News / GA