But, one month's data doesn't define a trend. This indicator has trended downward since peaking in 1994 at approximately 13 percent. This followed a 0.7 percent increase in December. Unfilled orders were up for the fifth consecutive month increasing by 1.7 percent. This was the largest monthly increase in unfilled orders since December 1989.
Manufacturers continue to have trouble working off stocks of unsold goods.
This followed on the heels of a 1.1 percent decrease in the preceding week. In other news, Uncle Al, the bondtrader's pal was at it again today. Speaking at a bankers conference at Las Vegas, Fed chairman Greenspan opined that efficiencies and productivity improvements due to the increasing use of computers by businesses was generating economic growth that was not showing up in government statistics. I read this to mean that Greenspan probably feels okay about the inflation situation so, at this time, fear of rising prices would not be a factor in deciding whether to provide additional stimulus to the economy by way of lower interest rates. The Motley Fool.