Updated: 26-Mar-24 08:53 ET
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Updated: 26-Mar-24 08:53 ET |
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Highlights
- Durable goods orders rose 1.4% in February (Briefing.com consensus 1.3%) after falling a revised 6.9% (from -6.1%) in January.
- Excluding transportation, durable goods orders increased 0.5% (Briefing.com consensus 0.4%) after decreasing an unrevised 0.3% in January.
Key Factors
- New orders for primary metals were up 1.4% month-over-month after falling 1.6% in January.
- New orders for fabricated metals were up 0.8% month-over-month after falling 1.2% in January.
- New orders for machinery were up 1.9% month-over-month after falling 0.8% in January.
- New orders for computers and electronic products were down 1.4% month-over-month after rising 1.0% in January.
- New orders for transportation equipment were up 3.3% after falling 18.3% in January.
- Nondefense capital goods orders, excluding aircraft-a proxy for business spending-rose 4.4% after falling 21.2% in January. Shipments of nondefense capital goods orders excluding aircraft, which factors into GDP computations, were down 0.4% month-over-month after increasing 0.8% in January.
Big Picture
- The key takeaway from the report is that business spending rebounded after a poor January as nondefense capital goods orders increased 4.4%.
Category |
FEB |
JAN |
DEC |
NOV |
OCT |
Total Durable Orders |
1.4% |
-6.9% |
-0.3% |
5.4% |
-5.1% |
Less Defense |
2.2% |
-7.9% |
0.0% |
6.8% |
-6.4% |
Less Transport |
0.5% |
-0.3% |
-0.2% |
0.5% |
-0.3% |
Transportation |
3.3% |
-18.3% |
-0.6% |
15.3% |
-13.4% |
Capital Goods |
1.9% |
-17.1% |
-1.4% |
12.9% |
-10.1% |
Nondefense |
4.4% |
-21.2% |
0.1% |
18.2% |
-14.2% |
Nondefense/nonaircarft (core cap gds) |
0.7% |
-0.4% |
-0.6% |
0.9% |
-0.6% |
Defense Cap Goods |
-12.7% |
20.2% |
-13.3% |
-16.3% |
23.5% |