New Orders for Durable Goods Up 5.7% in February

Advance report: New orders increased by $12.4 billion.

New orders for manufactured durable goods in February increased $12.4 billion or 5.7 percent to $232.1 billion, according to the U.S. Census Bureau. This increase, up five of the last six months, followed a 3.8 percent January decrease.

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Excluding transportation, new orders decreased 0.5 percent. Excluding defense, new orders increased 4.5 percent. Transportation equipment, up two of the last three months, drove the increase, $13.3 billion or 21.7 percent to $74.4 billion. This was led by nondefense aircraft and parts, which increased $9 billion.

Shipments of manufactured durable goods in February, up five of the last six months, increased $2.2 billion or 1 percent to $229.3 billion. This followed a 0.7 percent January decrease. Transportation equipment, up three of the last four months, had the largest increase, $1 billion or 1.6 percent to $66 billion. This followed a 1.9 percent January decrease.

Unfilled orders for manufactured durable goods in February, up five of the last six months, increased $9.4 billion or 0.9 percent to $999.8 billion. This increase followed a 0.1 percent January decrease. Transportation equipment, also up five of the last six months, led the increase, $8.4 billion or 1.4 percent to $592.3 billion.

Inventories of manufactured durable goods, up sixteen of the last seventeen months, increased $1.6 billion or 0.4 percent in February to $376.9 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.3 percent January increase. Transportation equipment, up thirty-one consecutive months, drove the increase, $1.8 billion or 1.6 percent to $118 billion.

Nondefense new orders for capital goods in February increased $7.4 billion or 10 percent to $80.8 billion. This was the largest increase in five months. Shipments increased $0.1 billion or 0.2 percent to $70.8 billion. Unfilled orders increased $10 billion or 1.7 percent to $596.9 billion. Inventories increased $1.1 billion or 0.6 percent to $175.5 billion.

Defense new orders for capital goods in February increased $3.3 billion or 68 percent to $8.1 billion. Shipments increased $400 million or 4.8 percent to $8.4 billion. Unfilled orders decreased $200 million or 0.1 percent to $167.8 billion. Inventories increased $600 million or 2.8 percent to $22.2 billion.

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