New orders for manufactured durable goods increased 4.9 percent to $237.5 billion in January, according to the U.S. Census Bureau. The January increase followed a 4.6 percent decrease in December. The majority of the month’s gain was due to an increase in new orders for transportation equipment, which increased by 11.5 percent. Excluding transportation, new orders increased 1.8 percent.
New orders excluding defense increased by 4.5 percent on the month, as orders of nondefense capital goods increased by 21.6 percent to $79.2 billion. In contrast, defense new orders for capital goods increased by 11.9 percent to $10.2 billion.
Shipments of manufactured durable goods, up two of the last three months, increased 1.9 percent to $241.9 billion, following a 1.6 percent decrease in December.
Inventories of manufactured durable goods fell 0.1 percent to $396.3 billion, marking the sixth decline in the last seven months. Inventories increased by 0.2 percent in the previous month.
Read the Census release.