The 2020 Mid-Year Economic Update_long

Durable Goods New Orders Up 2.6% in March

Transportation equipment led the increase, growing 4 percent for the month.

New orders for manufactured durable goods in March increased 2.6 percent to $234.8 billion, according to the U.S. Census Bureau. This increase, up two consecutive months, followed a 2.1 percent February increase.

Excluding transportation, new orders increased 2 percent. Excluding defense, new orders increased 1.8 percent. Transportation equipment, also up two consecutive months, led the increase, $2.8 billion or 4 percent to $74.1 billion.

Shipments of manufactured durable goods in March, up two consecutive months, increased 1.1 percent to $236.6 billion. This followed a 1 percent February increase. Transportation equipment, also up two consecutive months, led the increase, $1 billion or 1.5 percent to $70 billion.

Unfilled orders for manufactured durable goods in March, up 13 of the last 14 months, increased 0.6 percent to $1,068.2 billion. This was at the highest level since the series was first published on a NAICS basis in 1992, and followed a 0.2 percent February increase. Transportation equipment, up six of the last seven months, led the increase, $4 billion or 0.6 percent to $663 billion.

Inventories of manufactured durable goods in March, up 11 of the last 12 months, increased 0.5 percent to $394.1 billion. This was at the highest level since the series was first published on a NAICS basis and followed a 0.8 percent February increase. Transportation equipment, up 22 of the last 23 months, led the increase, $0.9 billion or 0.7 percent to $126 billion.

Nondefense new orders for capital goods in March increased 7.1 percent to $80.5 billion. Shipments increased 1.7 percent to $76.2 billion. Unfilled orders increased 0.7 percent to $648.8 billion. Inventories increased 0.5 percent to $178.9 billion.

Defense new orders for capital goods in March increased 21.6 percent to $9.3 billion. Shipments increased 1.9 percent to $9.7 billion. Unfilled orders decreased 0.2 percent to $156 billion. Inventories increased 0.9 percent to $23.9 billion.

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