According to the U.S. Census Bureau’s January durable goods report, new orders for manufactured durable goods in January increased $4.3 billion, or 1.6%, to $277.5 billion. This increase, which marked the eighth of the last nine months, followed a 1.2% increase in December. Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 1.6%. Transportation equipment, up three consecutive months, led the January increase, rising $2.9 billion, or 3.4%, to $87.6 billion.

Shipments of manufactured durable goods in January, which have risen in eight of the last nine months, increased $3.1 billion, or 1.2%, to $270.4 billion. This followed a 1.3% December increase. Machinery, up 10 of the last 11 months, led the increase, rising $1 billion, or 2.7%, to $38.9 billion.

Unfilled orders for manufactured durable goods in January, which have been risen for 12 consecutive months, increased $11.4 billion, or 0.9%, to $1,283.2 billion. This followed a 0.8% December increase. Transportation equipment, up 11 of the last 12 months, led the increase, rising $9.6 billion, or 1.1%, to $848.8 billion.

Inventories of manufactured durable goods in January, which have risen for 12 consecutive months, increased $1.9 billion, or 0.4%, to $476 billion. This followed a 0.8% December increase. Machinery, which has risen in 15 consecutive months, led the increase, rising $0.7 billion, or 0.9%, to $79.4 billion.

Non-defense new orders for capital goods in January increased $3.9 billion, or 4.2%, to $96.9 billion. Shipments increased $1.7 billion, or 2.1%, to $84 billion. Unfilled orders increased $12.9 billion, or 1.7%, to $793.9 billion. Inventories increased $0.3 billion, or 0.1%, to $208 billion. Defense new orders for capital goods in January increased $1.4 billion, or 15.7%, to $10.4 billion. Shipments increased $0.5 billion, or 4.2%, to $12.9 billion. Unfilled orders decreased $2.5 billion, or 1.3%, to $185.4 billion. Inventories increased $0.1 billion, or 0.5%, to $21.5 billion.

The U.S. Census Bureau also provided revised data from December, with new orders at $536.8 billion (revised from $530.7 billion), shipments at $530.9 billion (revised from $528.9 billion), unfilled orders at $1,271.8 billion (revised from $1,267.7 billion) and total inventories at $773.8 billion (revised from $773.0 billion).