The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Down 1.1% in February

Decrease of manufactured durable goods is the first dip after nine straight months of growth since May 2020.
durable goods February 2021

New orders for manufactured durable goods in February decreased $2.9 billion, or 1.1%, to $254 billion, according to the U.S. Census Bureau.

This decrease, down following nine consecutive monthly increases, followed a 3.5% January increase. Excluding transportation, new orders decreased 0.9%. Excluding defense, new orders decreased 0.7%. Transportation, down following five consecutive monthly increases, led the decrease, $1.3 billion, or 1.6% to $83.6 billion.

Shipments

Shipments of manufactured durable goods in February, down following five consecutive monthly increases, decreased $9.1 billion or 3.5% to $250.9 billion. This followed a 1.7% January increase. Transportation equipment, also down following five consecutive monthly increases, led the decrease, $7 billion or 8.2% to $78.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in February, up two consecutive months, increased $8.4 billion or 0.8% to $1,082 billion. This followed a 0.2% January increase. Transportation equipment, up following eleven consecutive monthly decreases, led the increase, $5 billion or 0.7% to $711.1 billion.

Inventories

Inventories of manufactured durable goods in February, up following two consecutive monthly decreases, increased $2.8 billion or 0.7% to $427.3 billion. This followed a 0.3% January decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $0.9 billion or 0.6% to $146.6 billion.

Capital Goods

Nondefense new orders for capital goods in February increased $4.2 billion or 5.6% to $79.6 billion. Shipments decreased $2.2 billion or 2.9% to $74.5 billion. Unfilled orders increased $5.1 billion or 0.9% to $592.1 billion. Inventories increased $0.3 billion or 0.2% to $192.2 billion. Defense new orders for capital goods in February decreased $1.6 billion or 10.6% to $13.5 billion. Shipments decreased $0.1 billion or 0.9% to $13.1 billion. Unfilled orders increased $0.3 billion or 0.2% to $180.2 billion. Inventories increased $0.2 billion or 1% to $21.4 billion.

Revised January Data

Revised seasonally adjusted January figures for all manufacturing industries were: new orders, $509.2 billion (revised from $509.4 billion); shipments, $512.2 billion (revised from $513.3 billion); unfilled orders, $1,073.6 billion (revised from $1,072.8 billion) and total inventories, $696.8 billion (revised from $696.3 billion).

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