Durable Goods Orders Drop 5.7% in March
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau said new orders for durable goods in March decreased $13.1 billion or 5.7% to $216.3 billion. This decrease, down two of the last three months, followed a 4.3% February increase.
Excluding transportation, new orders decreased 1.4%. Transportation equipment, also down two of the last three months, led the decrease, $11 billion or 15% to $62.4 billion. This was led by nondefense aircraft and parts, which decreased $8.5 billion.
Shipments of manufactured durable goods in March, up six of the last seven months, increased $1 billion or 0.4% to $230 billion. This was at the highest level since the series was first published on a North American Industry Classification System (NAICS) basis in 1992 and followed a 0.7% February increase. Transportation equipment, up four of the last five months, drove the increase, $1.4 billion or 2.1% to $67.6 billion. This followed a 1.7% February increase.
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