The commerce department released its advance report of April durable goods orders. Due to a slump in auto and aircraft manufacturing, durable goods orders dropped 3.6%, a much larger decrease than the 2.2% expected by analysts.
New Orders
New orders for manufactured durable goods in April decreased $7.1 billion or 3.6 percent to $189.9 billion, the U.S. Census Bureau announced today. This decrease, down two of the last three months, followed a 4.4 percent March increase. Excluding transportation, new orders decreased 1.5 percent. Excluding defense, new orders decreased 3.6 percent.
Transportation equipment, also down two of the last three months, had the largest decrease, $4.9 billion or 9.5 percent to $46.7 billion.
Shipments
Shipments of manufactured durable goods in April, down following four consecutive monthly increases, decreased $2.0 billion or 1.0 percent to $194.9 billion. This followed a 3.1 percent March increase.
Transportation equipment, also down following four consecutive monthly increases, had the largest decrease, $1.5 billion or 3.0 percent to $46.6 billion.
Unfilled Orders
Unfilled orders for manufactured durable goods in April, up twelve of the last thirteen months, increased $1.6 billion or 0.2 percent to $849.5 billion. This followed a 0.7 percent March increase.
Machinery, up fifteen consecutive months, had the largest increase, $2.2 billion or 2.2 percent to $103.6 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 2.1 percent March increase.
Inventories
Inventories of manufactured durable goods in April, up sixteen consecutive months, increased $3.2 billion or 0.9 percent to $350.5 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.7 percent March increase.
Transportation equipment, also up sixteen consecutive months, had the largest increase, $1.0 billion or 1.0 percent to $106.1 billion. This was also at the highest level since the series was first published on a NAICS basis in 1992 and followed a 2.4 percent March increase.
Capital Goods
Nondefense new orders for capital goods in April decreased $5.3 billion or 7.3 percent to $67.6 billion. Shipments decreased $1.1 billion or 1.6 percent to $66.0 billion. Unfilled orders increased $1.6 billion or 0.3 percent to $495.5 billion. Inventories increased $2.2 billion or 1.4 percent to $157.8 billion.
Defense new orders for capital goods in April decreased $0.5 billion or 5.8 percent to $8.0 billion. Shipments decreased $0.4 billion or 4.5 percent to $8.1 billion. Unfilled orders decreased $0.1 billion to $147.7 billion. Inventories increased $0.2 billion or 0.8 percent to $20.8 billion.
Revised and Recently Benchmarked March Data
Revised and recently benchmarked seasonally adjusted March figures for all manufacturing industries were: new orders, $445.3 billion (revised from $444.2 billion); shipments, $445.2 billion (revised from $443.5 billion); unfilled orders, $847.8 billion (revised from $848.3 billion); and total inventories, $579.6 billion (revised from $578.7 billion).
Source:
U.S. Commerce Department: https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf
