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MNI DATA IMPACT: US January Factory Orders Rise 0.1%>

--Factory Inventories Up 0.5%
--Orders Up On Machinery, Electrical Equipment, and Transportation
By Shikha Dave and Harrison Clarke
     WASHINGTON (MNI) - The value of new factory orders rose 0.1% in 
January, below the 0.3% increase expected by analysts in an MNI survey 
and the Bloomberg consensus, data released by the Commerce Department 
Tuesday morning showed. 
     Durable goods orders were revised down to a 0.3% gain from the 0.4% 
increase in the advanced estimate. Nondurable goods orders fell 0.2% on 
declines in chemical products, petroleum and coal products, and textile 
products. Nondurable goods new orders are equivalent to nondurable goods 
shipments in this report. 
Here are the key findings from the release:
     -Factory orders excluding transportation were down 0.2% in the 
month following a 0.5% decline in December, interrupting the string of 
gains that stretches back for most of the past two years. Durables 
orders excluding transportation were revised down to a 0.2% decline from 
the 0.1% decline reported in the advanced estimate. In addition, 
unfilled orders were +0.1% in January, showing a slight increase in 
demand for manufactured goods. 
     -Transportation orders were up 1.2% in January. The unlisted 
transportation components were down 2.3% in the month, based on an MNI 
calculation. Nondefense capital goods new orders rose by 2.5%, and were 
still up 0.8% when excluding aircraft. Factory inventories posted a 0.5% 
increase in January. 
     -Overall factory shipments were down 0.4% in the month on a 0.5% 
decrease for durable goods shipments. The decline was also driven by a 
0.2% decline in nondurable shipments. Nondefense capital goods shipments 
decreased by 1.6%, but were up 0.8% after excluding the civilian 
aircraft component. Given the mix of inventories and shipments reported 
Tuesday, the inventory-to-shipments ratio rose from 1.35 in December to 
     ** MNI Washington Bureau: 202-371-2121 ** 

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