Advance: U.S. Durable Goods Orders Rebounded in February - Modern Distribution Management

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Advance: U.S. Durable Goods Orders Rebounded in February

A modest February increased followed a January that had the sharpest one-month decline since April 2020.
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New orders for U.S.-made durable goods — products meant to last three years or more — increased 1.4% month-to-month in February to $277.9 billion, representing a considerable rebound from January in what has been a volatile recent demand cycle.

Economists polled by Reuters had forecast a rise of 1.1%.

It followed a 6.9% decline in January, which was the sharpest one-month decline since April 2020’s 19.3% drop amid COVID-19 shutdowns. The figure from the U.S. Census Bureau’s monthly advance report was revised from an advance mark of -6.1%.

Orders fell 0.3% in December and rose 5.4% in November.

Excluding transportation, February new orders increased 0.5%. Excluding defense, new orders increased 2.2%. Transportation equipment led February’s increase, up 3.3% to $90.4 billion.

Year-over-year, February U.S. durable goods orders increased 1.8%.

Shipments of manufactured durable goods — up following two straight monthly decreases — increased 1.2% in February to $282.7 billion, following January’s 0.8% decrease. Transportation equipment led the February increase, up 4.0% to $89.8 billion.

Source: U.S. Census Bureau, Manufacturers’ Shipments, Inventories, and Orders, March 26, 2024.

Here’s how monthly new orders and shipments of different durable goods product categories fared in February, seasonally-adjusted, according to Census Bureau data:

Primary Metals

  • Shipments: +0.9%
  • New Orders: +0.8%

Fabricated Metal Products

  • Shipments: +0.5%
  • New Orders: +0.8%


  • Shipments: -0.4%
  • New Orders: +1.9%

Computers and Electronic Products

  • Shipments: +0.2%
  • New Orders: -1.4%

Electrical Equipment, Appliances and Components

  • Shipments: -1.7%
  • New Orders: -1.5%

Transportation Equipment

  • Shipments: +4.0%
  • New Orders: +3.3%

All Other Durable Goods

  • Shipments: 0.0%
  • New Orders: +0.3%

Capital Goods

  • Shipments: +2.5%
  • New Orders: +1.9%

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