Highlights
Factory orders fell back 1.0 percent following very strong gains in the prior months of 1.4 (revised up from 1.1 percent) and of 2.2 percent. Weakness is centered in durable goods orders which fell 3.7 percent (revised from the minus 4.0 percent in last week's durable goods data). Weakness here is widely spread but again follows unusual strength in prior months. Orders for non-durable goods, which always reflect price swings in commodities especially oil, rose 1.3 percent.

Other readings in today's report include a solid gain in shipments, up 0.9 percent, a rise in unfilled orders, up 0.6 percent, and a 0.6 percent build in inventories. Inventories, despite the monthly dip in new orders, are steady and lean with the inventory-to-shipment ratio unchanged at 1.33.

January was a difficult month for the manufacturing sector though a bounce back, based on anecdotal reports, is likely in February.

Market Consensus before announcement
Factory orders rose a very healthy 1.1 percent in December on top of November's even stronger and upwardly revised 2.2 percent jump. The gain was centered in durable goods which jumped 3.0 percent in the month on top of November's 4.2 percent rise. Orders for nondurable goods, always affected by monthly swings in energy prices, fell 0.4 percent in December. More recently, new factory orders for durables in January fell back 4.0 percent, following a revised 3.2 percent jump in December.

2012 Release Schedule

Released On: 1/4 2/3 3/5 4/3 5/2 6/4 7/3 8/2 8/31 10/4 11/2 12/5 Release For: Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct