Research >> Economics
New orders for manufactured goods increased 1.6% in March 2024
|
Summary
New orders for manufactured goods in March, up two consecutive months, increased $9.1 billion or 1.6 percent to $584.5 billion, the U.S. Census Bureau reported today. This followed a 1.2 percent February increase. Shipments, also up two consecutive months, increased $1.5 billion or 0.3 percent to $583.3 billion. This followed a 1.4 percent February increase. Unfilled orders, up following two consecutive monthly decreases, increased $6.1 billion or 0.4 percent to $1,397.4 billion. This followed a 0.1 percent February decrease. The unfilled orders-to-shipments ratio was 7.19, up from 7.10 in February. Inventories, up two consecutive months, increased $0.4 billion or virtually unchanged to $857.7 billion. This followed a 0.2 percent February increase. The inventories-to-shipments ratio was 1.47, unchanged from February.
New Orders
New orders for manufactured durable goods in March, up two consecutive months, increased $7.3 billion or 2.6 percent to $283.3 billion, unchanged from the previously published increase. This followed a 0.7 percent February increase. Transportation equipment, also up two consecutive months, led the increase, $6.9 billion or 7.8 percent to $95.9 billion. New orders for manufactured nondurable goods increased $1.9 billion or 0.6 percent to $301.2 billion.
Shipments
Shipments of manufactured durable goods in March, down three of the last four months, decreased $0.3 billion or 0.1 percent to $282.1 billion, down from the previously published virtually unchanged decrease. This followed a 1.1 percent February increase. Transportation equipment, also down three of the last four months, drove the decrease, $0.5 billion or 0.6 percent to $89.3 billion. Shipments of manufactured nondurable goods, up two consecutive months, increased $1.9 billion or 0.6 percent to $301.2 billion. This followed a 1.7 percent February increase. Petroleum and coal products, also up two consecutive months, led the increase, $0.8 billion or 1.2 percent to $68.7 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $6.1 billion or 0.4 percent to $1,397.4 billion, unchanged from the previously published increase. This followed a 0.1 percent February decrease. Transportation equipment, up twelve of the last thirteen months, drove the increase, $6.6 billion or 0.7 percent to $903.2 billion.
Inventories
Inventories of manufactured durable goods in March, down following seven consecutive monthly increases, decreased $0.1 billion or virtually unchanged to $527.8 billion, unchanged from the previously published decrease. This followed a 0.2 percent February increase. Machinery, down three consecutive months, led the decrease, $0.1 billion or 0.1 percent to $95.0 billion. Inventories of manufactured nondurable goods, up two consecutive months, increased $0.5 billion or 0.2 percent to $329.9 billion. This followed a 0.3 percent February increase. Petroleum and coal products, also up two consecutive months, led the increase, $0.2 billion or 0.5 percent to $48.0 billion. By stage of fabrication, March materials and supplies decreased 0.1 percent in durable goods and increased 0.4 percent in nondurable goods. Work in process increased 0.5 percent in durable goods and decreased 0.1 percent in nondurable goods. Finished goods decreased 0.6 percent in durable goods and increased 0.1 percent in nondurable goods.
Posted: May 2, 2024 Thursday 10:00 AM