U.S. Census Bureau data released May 2 showed a surge in new orders of manufactured goods during March— marking three consecutive monthly gains. Orders increased 4.3% during March, dwarfing the 0.5% gain in February (revised down from 0.6%).

Economists polled by Reuters expected factory orders to increase 4.5% during March.

Orders increased 3.0% on a year-over-year basis.

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U.S. Manufactured Goods: Month-t0-Month Change %

source: tradingeconomics.com

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The Bureau’s report showed that March durable goods orders jumped 9.2% during March, led by a 139% spike in commercial aircraft orders. But that figures to be short-lived, as China has ordered its airlines to suspend Boeing jet deliveries amid the ongoing U.S. trade spat. Additionally, Europe’s largest budget airliner — U.S. Ryanair — threatened on May 1 to cancel orders for hundreds of Boeing aircraft if tariffs result in materially higher prices.

Meanwhile, orders for motor vehicles, parts and trailers climbed 0.6% in March. Orders for transportation equipment jumped 27.1%, while orders for computers and electronic products 1.3%, alongside a 1.0% decrease in orders for electrical equipment, appliances and components.

Shipments snapped a four-month streak of increases with a 0.1% dip in March after a 0.7% February gain.

Unfilled orders — up eight of the last nine months — increased 2.0% (+0.1% in Feb.) and the unfilled orders-to-shipments ratio moved up to 6.98 during March (6.81 in Feb.).

Inventories — up five consecutive months — increased 0.1% during March (-0.1% in Feb.) and the inventories-to-shipments ratio went unchanged at 1.45.