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Durable Goods In United States Decline For Second Month

United States of America – Following a downwardly revised 5% decline in January, durable goods orders in the US, which track the cost of orders received by manufacturers of goods designed to last at least three years, fell 1% month over month in February 2023, contrary to market expectations of a 0.6% increase.

The largest drag on the industry was transportation equipment, which fell 2.8%. This included nondefense aircraft and parts (-6.6%) and defense aircraft and parts (-11.1%), while motor vehicle and part prices fell 0.9%.

Transportation excluded, new orders were essentially unchanged.

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Moreover, orders decreased (-2.2%) for capital goods, including nondefense (-1.2%), machinery (-0.5%), and computers and electronic products (-0.1%), but increased (0.4%) and (0.3%) for fabricated metal products and primary metals.

Following a 0.3% gain in January, orders for non-defense capital goods excluding aircraft, a frequently monitored indicator of company spending intentions, rose by 0.2%.

U.S. Census Bureau as the source



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