Orders for Manufactured Goods Rose 2.6% in March

Washington, DC, April 24, 2024-New orders for manufactured durable goods in March, up two consecutive months, increased $7.3 billion or 2.6% to $283.4 billion, the U.S. Census Bureau announced. This followed a 0.7% February increase. Excluding transportation, new orders increased 0.2%. Excluding defense, new orders increased 2.3%. Transportation equipment, also up two consecutive months, led the increase, $6.8 billion or 7.7% to $95.9 billion.

Shipments of manufactured durable goods in March, down three of the last four months, decreased $0.1 billion or virtually unchanged to $282.4 billion. This followed a 1.2% February increase. Transportation equipment, also down three of the last four months, drove the decrease, $0.4 billion or 0.5% to $89.4 billion.

Unfilled orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $5.9 billion or 0.4% to $1,397.2 billion. This followed a 0.1% February decrease. Transportation equipment, up twelve of the last thirteen months, drove the increase, $6.5 billion or 0.7% to $903.2 billion.

Inventories of manufactured durable goods in March, down following seven consecutive monthly increases, decreased less than $0.1 billion or virtually unchanged to $527.9 billion. This followed a 0.2% February increase. Electrical equipment, down three of the last four months, drove the decrease, $0.1 billion or 0.4% to $25.9 billion.