Manufacturing orders increased by 0.5% in March

New orders for manufactured durable goods rose by 0.5%, or $1.4 billion, to $256.3 billion in March, from February, according to the U.S. Census Bureau.

The Census Bureau released Monday (April 26) the advance report on durable goods manufacturers’ shipments inventories and orders that showed the March increase in the orders followed a 0.9% decrease in February. Excluding transportation, the orders increased by 1.6%. Excluding defense, the orders rose by 0.5%. Fabricated metal products contributed the most to the March rise, increasing by 3.6%, or $1.2 billion, to $35.4 billion.

Shipments of manufactured durable goods rose by 2.5%, or $6.4 billion, to $257 billion in March. The rise followed a 3.6% decline in February. Transportation equipment contributed the most to the March rise, increasing by 4.8%, or $3.7 billion, to $82.1 billion.

Unfilled orders for manufactured durable goods rose by 0.4%, or $4.4 billion, to $1.08 trillion in March. The unfilled orders rose by 0.9% in February. Fabricated metal products contributed the most to the March rise, increasing by 2.8%, or $2.3 billion, to $83 billion.

Inventories of manufactured durable goods rose by 1%, or $4.2 billion, to $431.8 billion in March. The inventories rose by 0.7% in February. Transportation equipment contributed the most to the March rise, increasing by 1.4%, or $2.1 billion, to $149 billion.

Nondefense new orders for capital goods declined by 4.7%, or $3.7 billion, to $75.9 billion in March. Shipments increased by 1.9%, or $1.4 billion, to $75.8 billion. Unfilled orders rose about $100 million to $592.3 billion. Inventories increased by 0.4%, or by $700 million, to $192.7 billion. Defense new orders for capital goods increased by 3.8%, or $500 million, to $14.1 billion in March. Shipments declined by 0.2%, or less than $100 million, to $13 billion. Unfilled orders rose by 0.6%, or $1.1 billion, to $181.4 billion. Inventories declined by less than $100 million to $21.4 billion.