Manufactured goods orders increased 1.2% in February

New orders for manufactured durable goods rose 1.2%, or by $2.9 billion, to $249.4 billion in February, from January, according to the U.S. Census Bureau. The orders have risen in four of the past five months, including a 0.1% increase in January.

The Census Bureau announced Wednesday (March 25) the advance report on durable goods manufacturers’ shipments, inventories and orders for February.

Excluding transportation, new orders for manufactured durable goods declined by 0.6% in February. Excluding defense, the orders increased by 0.1%. New orders of transportation equipment increased 4.6%, or by $3.8 billion, to $87 billion in February and were up in two of the past three months.

Shipments of manufactured durable goods rose 0.8%, or by $2.1 billion, to $252.3 billion in February and rose after falling for seven consecutive months, including a 0.1% decrease in January. Transportation equipment shipments increased 2.9%, or by $2.4 billion, to $85 billion and rose following seven consecutive monthly decreases.

Unfilled orders for manufactured durable goods increased 0.1%, or by $1.4 billion, to $1.15 trillion in February and were up in four of the past five months, including a small increase in January. Unfilled orders for transportation equipment increased 0.2%, or by $1.9 billion, to $791.3 billion in February and was up in seven of the past eight months.

Inventories of manufactured durable goods were nearly unchanged, rising by $100 million to $434.9 billion in February, and were up in 17 of the past 18 months. The inventories fell 0.1% in January. Transportation equipment inventories increased 0.4%, or by $600 million, to $151.7 billion and have been up in 19 of the past 20 months.

Nondefense new orders for capital goods rose 0.5%, or by $400 million, to $73.1 billion in February. Shipments increased 1.3%, or by $1 billion, to $74.3 billion. Unfilled orders fell 0.2%, or by $1.2 billion, to $670 billion. Inventories rose 0.1%, or by $200 million, to $198.3 billion. Defense new orders for capital goods increased 25.7%, or by $3.1 billion, to $15.2 billion. Shipments declined 1.5%, or by $200 million, to $13.1 billion. Unfilled orders increased 1.3%, or by $2.1 billion, to $165.6 billion. Inventories were nearly unchanged, falling less than $100 million, to $24.1 billion.