Research >> Economics
February 2024 New Orders for Durable Goods increased 1.4%, Ex-Trans up 0.5%
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New Orders
New orders for manufactured durable goods in February, up following two consecutive monthly decreases, increased $3.7 billion or 1.4 percent to $277.9 billion, the U.S. Census Bureau announced today. This followed a 6.9 percent January decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders increased 2.2 percent. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $2.9 billion or 3.3 percent to $90.4 billion.
Shipments
Shipments of manufactured durable goods in February, up following two consecutive monthly decreases, increased $3.5 billion or 1.2 percent to $282.7 billion. This followed a 0.8 percent January decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $3.4 billion or 4.0 percent to $89.8 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in February, up eleven of the last twelve months, increased $0.1 billion or virtually unchanged to $1,392.9 billion. This followed a virtually unchanged January decrease. Transportation equipment, up fourteen of the last fifteen months, drove the increase, $0.6 billion or 0.1 percent to $898.1 billion.
Inventories
Inventories of manufactured durable goods in February, up seven consecutive months, increased $1.7 billion or 0.3 percent to $528.7 billion. This followed a 0.1 percent January increase. Transportation equipment, also up seven consecutive months, led the increase, $1.2 billion or 0.7 percent to $170.2 billion.
Capital Goods
Nondefense new orders for capital goods in February increased $3.5 billion or 4.4 percent to $84.3 billion. Shipments increased $2.2 billion or 2.7 percent to $81.9 billion. Unfilled orders increased $2.4 billion or 0.3 percent to $845.2 billion. Inventories increased $0.7 billion or 0.3 percent to $230.4 billion. Defense new orders for capitalgoods in February decreased $1.7 billion or 12.7 percent to $11.8 billion. Shipments increased $0.1 billion or 1.0 percent to $14.1 billion. Unfilled orders decreased $2.4 billion or 1.1 percent to $205.4 billion. Inventories increased $0.3 billion or 1.4 percent to $25.2 billion.
Revised January Data
Revised seasonally adjusted January figures for all manufacturing industries were: new orders, $568.6 billion (revised from $569.7 billion); shipments, $573.6 billion (revised from $572.3 billion); unfilled orders, $1,392.8 billion (revised from $1,395.1 billion) and total inventories, $855.4 billion (revised from $855.8 billion).
Posted: March 26, 2024 Tuesday 08:30 AM