Durable goods advanced orders
- Prior month 1.0% revised to 0.9%
- durable goods orders 9.2% which is the highest level since July 2024 when it rose 9.8%.
- Nondefense capital goods orders ex-air 0.1% versus 0.2% expected
- Prior nondefense capital goods orders ex-air -0.3% (revised from -0.2%
- Ex transport 0.0% versus +0.3%. Prior month 0.7%
- Ex defense +10.4% versus +0.8% per month
Looking at Shipments:
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March durable goods shipments rose for the 4th straight month, up $0.2B (+0.1%) to $293.0B
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February shipments rose 1.3%
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Primary metals led gains, up $0.2B (+0.8%) to $27.8B, rising in 6 of the past 7 months
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Unfilled Orders (Durable Goods)
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Rose $27.7B (+2.0%) to $1,429.6B in March (up 8 of last 9 months)
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Driven by transportation equipment: +$28.1B (+3.1%) to $931.6B
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Inventories (Durable Goods)
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Capital Goods (Nondefense)
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New orders surged $26.1B (+29.4%) to $114.9B
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Shipments fell $1.6B (-1.9%) to $86.1B
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Unfilled orders rose $28.8B (+3.4%) to $875.6B
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Inventories increased $0.7B (+0.3%) to $233.5B
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Capital Goods (Defense)
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New orders declined $1.3B (-9.4%) to $12.2B
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Shipments dipped slightly (-0.2%) to $14.6B
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Unfilled orders fell $2.4B (-1.1%) to $208.0B
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Inventories rose $0.3B (+1.1%) to $27.2B
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Transportation had a huge impact on the durable goods orders as threats of tariff probably influenced those numbers.. Also excluding defense, orders were up a March 10 .4%. Durable goods have been up for three consecutive months.
Transportation equipment has been up for three consecutive months and led the increases month with a gain of $26.5 billion or 27% to $124.6 billion.
Durable good orders can be volatile due to the relatively high price. Add the threat of tariffs and you might get even more volatillity. In a week or two, the Factory Goods orders will revise the number given more data.
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