Durable Goods Orders Rose 3.1% in February

New orders for manufactured durable goods increased 3.1% in February to $247.7 billion, following a 3.5% January decline, according to the U.S. Census Bureau. Transportation equipment drove the increase, growing 7.1% to $83.5 billion over the month.

New orders excluding defense increased 2.5% on the month, while orders of nondefense capital goods gained 4.5% to $77.4 billion.

Shipments of manufactured durable goods, rose 0.2% to $247.0 billion. This followed a 0.5% increase in January.

Inventories of manufactured durable goods continued to rise, growing 0.4% to $410.6 billion. This followed a 0.4% January increase and led to growth in nineteen of the last twenty months.

Read the Census release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.