Manufacturers’ new orders for consumer goods and materials is a significant component of the PMI.

It is a leading indicator that measures the dollar volume of orders, shipments, and unfilled orders of durable and nondurable goods.

These orders provide insight into consumer demand and manufacturing activity.

An increase suggests higher production rates ahead, signifying a robust economy.

Conversely, a decline can signal a future slowdown in manufacturing and potential economic contraction.

Recession Signal

A downward trend in new orders may precede a slowdown in economic activity, as manufacturers respond to diminishing demand by scaling back production, which could lead to a recession.

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You can find this data at TradingView: https://www.tradingview.com/chart/v7ZG3yMA/?symbol=FRED%3AACOGNO