Research >> Economics
March 2024 New Orders for Durable Goods increased 2.6%, Ex-Trans up 0.2%
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New Orders
New orders for manufactured durable goods in March, up two consecutive months, increased $7.3 billion or 2.6 percent to $283.4 billion, the U.S. Census Bureau announced today. This followed a 0.7 percent February increase. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders increased 2.3 percent. Transportation equipment, also up two consecutive months, led the increase, $6.8 billion or 7.7 percent to $95.9 billion.
Shipments
Shipments of manufactured durable goods in March, down three of the last four months, decreased $0.1 billion or virtually unchanged to $282.4 billion. This followed a 1.2 percent February increase. Transportation equipment, also down three of the last four months, drove the decrease, $0.4 billion or 0.5 percent to $89.4 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $5.9 billion or 0.4 percent to $1,397.2 billion. This followed a 0.1 percent February decrease. Transportation equipment, up twelve of the last thirteen months, drove the increase, $6.5 billion or 0.7 percent to $903.2 billion.
Inventories
Inventories of manufactured durable goods in March, down following seven consecutive monthly increases, decreased less than $0.1 billion or virtually unchanged to $527.9 billion. This followed a 0.2 percent February increase. Electrical equipment, down three of the last four months, drove the decrease, $0.1 billion or 0.4 percent to $25.9 billion.
Capital Goods
Nondefense new orders for capital goods in March increased $4.5 billion or 5.4 percent to $87.6 billion. Shipments decreased $1.3 billion or 1.5 percent to $80.5 billion. Unfilled orders increased $7.1 billion or 0.8 percent to $851.1 billion. Inventories increased $0.7 billion or 0.3 percent to $230.7 billion. Defense new orders for capital goods in March increased $1.2 billion or 10.6 percent to $12.9 billion. Shipments decreased $0.1 billion or 0.4 percent to $14.1 billion. Unfilled orders decreased $1.2 billion or 0.6 percent to $204.1 billion. Inventories increased $0.1 billion or 0.3 percent to $25.2 billion.
Revised February Data
Revised seasonally adjusted February figures for all manufacturing industries were: new orders, $575.6 billion (revised from $576.8 billion); shipments, $582.0 billion (revised from $581.6 billion); unfilled orders, $1,391.3 billion (revised from $1,392.8 billion) and total inventories, $857.3 billion (revised from $857.7 billion).
Posted: April 24, 2024 Wednesday 08:30 AM