US Manufacturing Orders Rise 0.2% in December

New orders for U.S. manufactured goods rose by 0.2% in December, following a 2.6% increase in November. The uptick in orders matched economist estimates, with non-durable goods orders rising by 0.4% and a slight pullback in durable goods orders. Meanwhile, shipments and inventories of manufactured goods remained virtually unchanged in December. Unfilled orders increased by 1.3% and the inventories-to-shipments ratio came in unchanged from the previous month at 1.48. Additionally, U.S. industrial productivity rose at a 2.7% pace in the fourth quarter compared with a year earlier, indicating a good sign for the U.S. economy.