New Orders for Durable Goods Increase 3.1% in February
APR 3, 2018 - 5:40 am
The U.S. Census Bureau reported that new orders for manufactured durable goods in February increased $7.4 billion, or 3.1%, to $247.7 billion. Durable goods have experienced increases in three of the last four months, although January experienced a 3.5% decrease. Excluding transportation, new orders increased 1.2%. Excluding defense, new orders increased 2.5%. Transportation equipment, also up three of the last four months, led the increase, $5.5 billion, or 7.1%, to $83.5 billion.
Shipments of manufactured durable goods in February, up nine of the last 10 months, increased by a marginal $2.2 billion, or 0.9%, to $249.7 billion. This followed a similarly small 0.5% January increase. Machinery, up six of the last seven months, led the increase, $0.6 billion, or 1.8%, to $33.4 billion.
Unfilled orders for manufactured durable goods in February, up five of the last six months, also increased by a small margin, rising $2.3 billion, or 0.2%, to $1,143.3 billion. This followed a 0.3% January decrease. Transportation equipment, up two of the last three months, led the increase, $1.4 billion, or 0.2%, to $773.2 billion.
Inventories of manufactured durable goods in February, up 19 of the last 20 months, increased $1.6 billion, or 0.4%, to $410.6 billion. This followed a similar 0.4% January increase. Transportation equipment, up three consecutive months, led the increase, $0.7 billion, or 0.6%, to $132.7 billion.
Nondefense new orders for capital goods in February increased $3.3 billion, or 4.5%, to $77.4 billion. Shipments increased $0.9 billion, or 1.2%, to $75.3 billion. Unfilled orders increased $2.1 billion, or 0.3%, to $708.6 billion. Inventories increased $1.0 billion, or 0.6%, to $183.1 billion. Defense new orders for capital goods in February increased $1.5 billion, or 16.5%, to $10.7 billion. Shipments decreased $0.4 billion, or 3.6%, to $11.1 billion. Unfilled orders decreased $0.4 billion, or 0.3%, to $140.6 billion. Inventories increased less than $0.1 billion, or 0.2%, to $23.2 billion.
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