January private machine orders excluding volatile items such as ship and those from electric power companies and a proxy for private capital expenditures were down 1.7 percent on the month but were 1.8 percent higher on the year.
Total orders were up 14.2 percent on the month. Nonmanufacturing orders excluding volatile orders were up 3.7 percent after 7.2 percent last time. Orders from overseas jumped 24.2 percent.
The total value of new private-sector purchase orders placed with manufacturers for machines, excluding ships and utilities. It is a leading indicator of production. Rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
It is a leading indicator of production. Rising purchase orders signal that manufacturers will increase activity as they work to fill the orders. The importance of machinery orders cannot be overstated given the economy's dependence on exports. The purpose of these data is to get a picture of machinery manufacturers' order books and to collect basic material for analyzing the direction of the economy through an early understanding of trends in capital investment in machinery.
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