New orders for manufactured goods made in the US edged up 0.1 percent from a month earlier in January of 2019, the same as in December and below market expectations of a 0.3 percent gain. Orders for transportation equipment led the rise again (1.2 percent compared to 3.2 percent in December), namely motor vehicle bodies, parts and trailers (0.4 percent compared to 1.5 percent) and nondefense aircraft and parts (15.6 percent compared to 35.7 percent). Also, increases were seen in orders for machinery (1.5 percent compared to -0.4 percent) and electrical equipment, appliances and components (1.4 percent compared to -0.3 percent). On the other hand, orders fell for fabricated metal products (-0.6 percent compared to +1.3 percent); computers and electronic products (-0.9 percent compared to -0.4 percent) and non-durables (-0.2 percent compared to -1.1 percent). Factory Orders in the United States averaged 0.28 percent from 1991 until 2019, reaching an all time high of 10.60 percent in July of 2014 and a record low of -10 percent in August of 2014.
Factory Orders in the United States is expected to be -0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 1.50 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 2.60 percent in 2020, according to our econometric models.