Economy
Durable Goods Orders Up 1.7% in February
Written by Sandy Williams
March 25, 2017
Durable goods orders rose in February by 1.7 percent after gaining 2.3 percent the prior month. The increase beat the Bloomberg estimate of a 1.4 percent gain. Excluding the volatile transportation category, orders gained 0.4 percent. Aircraft led the increase with a jump of 47.6 percent for civilian aircraft.
Core capital goods orders (excludes aircraft and defense) fell 0.1 percent in February. Shipments of core capital goods were up 1 percent in February and may help boost GDP for first quarter 2017.
February’s report indicates that demand continues to rise and manufacturers are optimistic about future growth.
The advance report on durable goods for February from the U.S. Census Bureau follows:
March 24, 2017 — The U.S. Census Bureau announces the February advance report on manufacturers’ shipments, inventories and orders:
New orders for manufactured durable goods in February increased $3.9 billion or 1.7 percent to $235.4 billion, the U.S. Census Bureau announced today. This increase, up two consecutive months, followed a 2.3 percent January increase. 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 in February, 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.
Revised seasonally adjusted January figures for all manufacturing industries were: new orders, $471.1 billion (revised from $470.2 billion); shipments, $478.2 billion (revised from $478.3 billion); unfilled orders, $1,114.9 billion (revised from $1,114.1 billion) and total inventories, $628.3 billion (revised from $627.9 billion)
Sandy Williams
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