US Durable Goods Orders Above Expectations


New orders for US manufactured durable goods went up 1.7 percent month-over-month in February of 2017, following an upwardly revised 2.3 percent jump in January and beating market expectations of a 1.2 percent rise. Civilian aircraft orders surged 47.6 percent and were the main driver of the increase. Non-defense capital goods orders excluding aircraft, a closely proxy for business spending plans, fell 0.1 percent after edging up 0.1 percent in the previous month.

Excluding transportation, new orders increased 0.4 percent. Excluding defense, new orders increased 2.1 percent. Transportation equipment, also up two consecutive months, led the increase, $3.3 billion or 4.3 percent to $80.4 billion. 

Shipments of manufactured durable goods, up three of the last four months, increased $0.6 billion or 0.3 percent to $239.2 billion. This followed a 0.1 percent January decrease. Machinery, also up three of the last four months, led the increase, $0.3 billion or 0.9 percent to $31.1 billion. 

Unfilled orders for manufactured durable goods in February, down eight of the last nine months, decreased $0.2 billion or virtually unchanged to $1,114.7 billion. This followed a 0.3 percent January decrease. Transportation equipment, also down eight of the last nine months, drove the decrease, $1.1 billion or 0.1 percent to $752.7 billion. 

Inventories of manufactured durable goods in February, up three of the last four months, increased $0.8 billion or 0.2 percent to $385.1 billion. This followed a 0.1 percent January increase. Transportation equipment, up following two consecutive monthly decreases, led the increase, $0.2 billion or 0.1 percent to $122.9 billion.

Nondefense new orders for capital goods in February increased $2.9 billion or 4.1 percent to $72.9 billion. Shipments decreased less than $0.1 billion or 0.1 percent to $72.1 billion. Unfilled orders increased $0.8 billion or 0.1 percent to $690.1 billion. Inventories increased $0.4 billion or 0.2 percent to $171.0 billion. Defense new orders for capital goods in February decreased $0.8 billion or 8.3 percent to $9.2 billion. Shipments increased $0.5 billion or 5.1 percent to $11.4 billion. Unfilled orders decreased $2.2 billion or 1.6 percent to $137.8 billion. Inventories increased $0.3 billion or 1.2 percent to $21.5 billion. 

US Durable Goods Orders Above Expectations


US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
3/24/2017 12:44:51 PM