New orders for manufactured durable goods fell 2.8 percent to $229.4 billion in February, according to the U.S. Census Bureau. The February increase followed a 4.2 percent increase in January. The majority of the month’s decrease was due to a 6.2 percent drop in new orders for transportation equipment. Excluding transportation, new orders decreased 1.0 percent.
New orders excluding defense fell 1.9 percent on the month, as orders of nondefense aircraft and parts and nondefense capital goods both fell significantly in February. Nondefense aircraft and parts orders fell 27.1 percent to $10.1 billion, while nondefense capital goods orders fell 7.5 percent to $72.7 billion.
Shipments of manufactured durable goods, down two of the last three months, fell 0.9 percent to $238.3 billion, following a 1.5 percent increase in January.
Inventories of manufactured durable goods fell 0.3 percent to $394.3 billion, marking the seventh decline in the last eight months. Inventories fell by 0.2 percent in January.
Read the Census release.