Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durables rose 2.5 percent in March, following an upwardly revised 0.7 percent gain in February (the initial release had February’s new orders falling 0.9 percent). Over the past year new orders are up 10.5 percent. Excluding transportation, durables orders rose 1.3 percent, following a 0.6 percent increase in February. However, on a year-over-year basis, the series has been trending down from an elevated growth rate of 14.0 percent in December to 6.0 percent in March. An important signal of future equipment and software investment—new orders of nondefense capital goods excluding aircraft—jumped up 3.7 percent in March, but have yet to recover back to December’s level after a sharp 5.9 percent decrease in January. Its short run (3-month) annualized growth rate is down 7.3 percent (heavily influenced by January’s decrease). On a year-over-year basis, new orders of nondefense capital goods excluding aircraft have edged down from a near 19 percent growth rate in December, but are still up 9.2 percent. Shipments of durables jumped up 1.8 percent in March, and rose 1.3 percent after excluding transportation shipments. Durables inventories continued to grow, as manufacturers added 1.3 percent in March. Over the past year, inventories have swelled by 11.5 percent.