New orders for manufactured goods made in the US jumped 1.9 percent from a month earlier in March 2019, following a downwardly revised 0.3 percent drop in February and beating market expectations of a 1.5 percent gain. That was the largest increase in factory orders since August 2018, due mainly to strong demand for transportation equipment (7 percent vs -2.9 percent), in particular civilian aircraft and parts (31 percent vs -25.4 percent) and motor vehicles and parts (1.5 percent vs 0.1 percent). Demand also rose for computers and electronic products (2.2 percent vs 0.3 percent), furniture and related products (1.1 percent vs -2.6 percent), electrical equipment, appliances, and components (0.5 percent vs 1.4 percent), and machinery (0.1 percent vs -0.9 percent). Orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, were up 1.4 percent in March. Factory Orders in the United States averaged 0.28 percent from 1991 until 2019, reaching an all time high of 10.60 percent in July of 2014 and a record low of -10 percent in August of 2014.
Factory Orders in the United States is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 0.10 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 0.30 percent in 2020, according to our econometric models.