18.03.202614:00:00UTC+00U.S. Core Factory Orders Ease to 0.4% in January, Signaling Slight Cooling in Manufacturing Momentum

U.S. factory orders excluding transportation rose by 0.4% month-over-month in January 2026, slowing from a 0.6% gain previously recorded in the same comparison period. The data, updated on 18 March 2026, indicate that while core manufacturing demand continues to grow, the pace of expansion has moderated.

The “previous” reading of 0.6% reflected the change from November to December, while the latest “actual” figure of 0.4% captures the change from December to January. Because transportation orders can be volatile, the ex-transportation measure is closely watched as a cleaner gauge of underlying industrial demand, and the softer increase suggests a mild cooling rather than a reversal in trend.

For investors and policymakers, the data point to a manufacturing sector that remains on a growth trajectory but without the stronger acceleration seen in the prior month. This may influence expectations for industrial output, corporate earnings in the manufacturing space, and the broader outlook for U.S. economic activity in early 2026.