Orders for Manufactured Goods Rose 1.6% in March

Washington, DC, March 2, 2024-New orders for manufactured goods in March, up two consecutive months, increased $9.1 billion or 1.6% to $584.5 billion, the U.S. Census Bureau reported. This followed a 1.2% February increase.

Shipments, also up two consecutive months, increased $1.5 billion or 0.3% to $583.3 billion. This followed a 1.4% February increase.

Unfilled orders, up following two consecutive monthly decreases, increased $6.1 billion or 0.4% to $1,397.4 billion. This followed a 0.1% February decrease.

The unfilled orders-to-shipments ratio was 7.19, up from 7.10 in February. Inventories, up two consecutive months, increased $0.4 billion or virtually unchanged to $857.7 billion. This followed a 0.2% February increase. The inventories-to-shipments ratio was 1.47, unchanged from February.