Manufactured goods orders fell 14.4% in March

New orders for manufactured durable goods declined 14.4%, or by $36 billion, to $213.2 billion in March, from February, according to the U.S. Census Bureau.

The Census Bureau released Friday (April 24) the advance report on durable goods manufacturers’ shipments, inventories and orders for March.

The March decline in new orders followed three consecutive monthly increases, including a 1.1% increase in February. Excluding transportation, new orders fell 0.2% in March. Excluding defense, new orders declined 15.8%. Transportation equipment, down two of the past three months, had the largest decrease in the new orders and fell 41%, or by $35.6 billion, to $51.2 billion.

Shipments of manufactured durable goods fell 4.5%, or by $11.4 billion, to $240.7 billion in March. The shipments have fallen in eight of the past nine months but rose 0.8% in February. Transportation equipment, down eight of the past nine months, had the largest decline in the shipments in March and fell 12.8%, or by $10.9 billion, to $74.1 billion.

Unfilled orders for manufactured durable goods decreased 2%, or by $23.4 billion, to $1.13 trillion in March. The unfilled orders declined following three consecutive monthly increases, including a 0.1% rise in February. Transportation equipment, down following three consecutive monthly increases, had the greatest decrease in the unfilled orders in March and declined 2.9%, or by $22.9 billion, to $768.3 billion.

Inventories of manufactured durable goods rose 0.6%, or by $2.7 billion, to $437.4 billion in March. The inventories have risen in 18 of the past 19 months, following a slight increase in February. Transportation equipment, up 20 of the past 21 months, had the greatest rise in the inventories in March and increased 0.6%, or by $900 million, to $152.6 billion.

Nondefense new orders for capital goods declined 33.4%, or by $24.5 billion, to $48.7 billion in March. Shipments rose 1.9%, or by $1.4 billion, to $75.7 billion. Unfilled orders declined 4%, or by $26.9 billion, to $643.2 billion. Inventories rose 1%, or by $2.1 billion, to $200.4 billion. Defense new orders for capital goods rose 4.3%, or by $700 million, to $16.4 billion in March. Shipments declined 2%, or by $300 million, to $12.8 billion. Unfilled orders rose 2.1%, or by $3.5 billion to $169.6 billion. Inventories fell 1.2%, or by $300 million, to $23.8 billion.