US Durable Goods Rise More Than Expected


New orders for US manufactured durable goods went up 1.8 percent month-over-month in January of 2017, following an upwardly revised 0.8 percent drop in December and beating market expectations of a 1.7 percent rise. It is the first gain in three months, boosted by a 6 percent jump in transportation equipment. However, non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, fell 0.4 percent after an upwardly revised 1.1 percent gain in December.

Excluding transportation, new orders decreased 0.2 percent and excluding defense, new orders increased 1.5 percent. Transportation equipment, also up following two consecutive monthly decreases, drove the increase, $4.3 billion or 6.0 percent to $76.4 billion.

Shipments of manufactured durable goods in January, down following two consecutive monthly increases, decreased $0.2 billion or 0.1 percent to $238.3 billion. This followed a 1.6 percent December increase. Machinery, also down following two consecutive monthly increases, drove the decrease, $0.5 billion or 1.6 percent to $30.7 billion.

Unfilled orders for manufactured durable goods in January, down seven of the last eight months, decreased $4.0 billion or 0.4 percent to $1,114.3 billion. This followed a 0.7 percent December decrease. Transportation equipment, also down seven of the last eight months, drove the decrease, $5.6 billion or 0.7 percent to $752.9 billion.

Inventories of manufactured durable goods in January, up two of the last three months, increased $0.1 billion or virtually unchanged to $383.8 billion. This followed a 0.1 percent December decrease. Computers and electronic products, up three of the last four months, drove the increase, $0.2 billion or 0.5 percent to $42.7 billion.

Nondefense new orders for capital goods in January increased $2.4 billion or 3.6 percent to $69.0 billion. Shipments decreased $0.3 billion or 0.4 percent to $71.9 billion. Unfilled orders decreased $2.9 billion or 0.4 percent to $688.7 billion. Inventories decreased $0.3 billion or 0.2 percent to $170.4 billion. Defense new orders for capital goods in January increased $0.8 billion or 8.0 percent to $10.4 billion. Shipments increased less than $0.1 billion or 0.2 percent to $11.0 billion. Unfilled orders decreased $0.6 billion or 0.4 percent to $140.3 billion. Inventories increased $0.3 billion or 1.6 percent to $21.1 billion.

US Durable Goods Rise More Than Expected


US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2017 1:44:26 PM