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In The News:

New Orders for Durable Goods Down 0.9% in Feburary

New orders for manufactured durable goods in February decreased $1.9 billion or 0.9 percent to $200 billion, the U.S. Census Bureau announced in an advance report. This decrease, down four of the last five months, followed a 3.6 percent January increase.

Excluding transportation, new orders decreased 0.6 percent. Excluding defense, new orders increased 0.4 percent. Machinery, down two consecutive months, had the largest decrease, $1.2 billion or 4.2 percent to $26.6 billion.

“The February data on new orders for long-lasting goods suggests an unwelcome softening in a critical source of demand for U.S. manufacturing,” said Cliff Waldman, economist for the Manufacturers Alliance/MAPI. “The sluggish demand profile for key supply chain sectors potentially foreshadows some loss of momentum for the strength of factory output."

Shipments of manufactured durable goods in February, up five of the last six months, increased $0.7 billion or 0.3 percent to $203.2 billion. This followed a 0.2 percent January increase. Machinery, up three of the last four months, had the largest increase, $0.7 billion or 2.6 percent to $26.1 billion.

Unfilled orders for manufactured durable goods in February, up ten of the last eleven months, increased $2.9 billion or 0.4 percent to $833.7 billion. This followed a 0.7 percent January increase. Transportation equipment, up two consecutive months, had the largest increase, $1.1 billion or 0.2 percent to $477.3 billion.

Inventories of manufactured durable goods in February, up fourteen consecutive months, increased $2.9 billion or 0.9 percent to $328.3 billion. This followed a 0.9 percent January increase. Transportation equipment, also up fourteen consecutive months, had the largest increase, $0.8 billion or 0.9 percent to $87.8 billion

Nondefense new orders for capital goods in February increased $1.7 billion or 2.5 percent to $69.1 billion. Shipments increased $0.7 billion or 1.1 percent to $66.2 billion. Unfilled orders increased $2.9 billion or 0.6 percent to $505.1 billion. Inventories increased $1.2 billion or 0.8 percent to $139.7 billion.

Defense new orders for capital goods in February decreased $2.8 billion or 24.8 percent to $8.3 billion. Shipments increased $0.2 billion or 2.5 percent to $8.5 billion. Unfilled orders decreased $0.1 billion or 0.1 percent to $141.4 billion. Inventories increased $0.1 billon or 0.4 percent to $17.6 billion.

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