The 2020 Mid-Year Economic Update_long

Advance Report: New Orders for Durable Goods Up 0.5% in March

Manufactured durable goods have increased 10 out of the last 11 months, with February the only decline in nearly a year.
Durable Goods March 2021

New orders for manufactured durable goods in February increased $1.4 billion, or 0.5%, to $256.3 billion, according to the U.S. Census Bureau.

This increase, up ten of the last eleven months, followed a 0.9% February decrease. Excluding transportation, new orders increased 1.6%. Excluding defense, new orders increased 0.5%. Fabricated metal products, up six of the last seven months, led the increase, $1.2 billion or 3.6% to $35.4 billion.

Shipments

Shipments of manufactured durable goods in March, up six of the last seven months, increased $6.4 billion or 2.5% to $257 billion. This followed a 3.6% February decrease. Transportation equipment, also up six of the last seven months, led the increase, $3.7 billion or 4.8% to $82.1 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in March, up three consecutive months, increased $4.4 billion or 0.4% to $1,087.7 billion. This followed a 0.9% February increase. Fabricated metal products, up eleven consecutive months, led the increase, $2.3 billion or 2.8% to $83 billion.

Inventories

Inventories of manufactured durable goods in March, up two consecutive months, increased $4.2 billion or 1% to $431.8 billion. This followed a 0.7% February increase. Transportation equipment, also up two consecutive months, led the increase, $2.1 billion or 1.4% to $149 billion.

Capital Goods

Nondefense new orders for capital goods in March decreased $3.7 billion or 4.7% to $75.9 billion. Shipments increased $1.4 billion or 1.9% to $75.8 billion. Unfilled orders increased $0.1 billion or virtually unchanged to $592.3 billion. Inventories increased $0.7 billion or 0.4% to $192.7 billion. Defense new orders for capital goods in March increased $0.5 billion or 3.8% to $14.1 billion. Shipments decreased less than $0.1 billion or 0.2% to $13 billion. Unfilled orders increased $1.1 billion or 0.6% to $181.4 billion. Inventories decreased less than $0.1 billion or virtually unchanged to $21.4 billion.

Revised February Data

Revised seasonally adjusted February figures for all manufacturing industries were: new orders, $507.1 billion (revised from $505.7 billion); shipments, $502.9 billion (revised from $502.4 billion); unfilled orders, $1,083.2 billion (revised from $1,082.3 billion) and total inventories, $702.5 billion (revised from $702.4 billion).

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