Updated: 24-Apr-24 09:17 ET
| March Durable Orders |
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| Updated: 24-Apr-24 09:17 ET |
Highlights
- Durable goods orders increased 2.6% month-over-month in March (Briefing.com consensus 1.8%) following a downwardly revised 0.7% increase (from 1.4%) in February.
- Excluding transportation, durable goods orders increased 0.2% month-over-month (Briefing.com consensus 0.3%) following a downwardly revised 0.1% increase (from 0.5%) in February.
Key Factors
- New orders for primary metals declined 0.5% month-over-month after increasing 0.7% in February.
- New orders for fabricated metals were up 0.2% month-over-month after increasing 0.7% in February.
- New orders for machinery rose 0.1% month-over-month after increasing 1.5% in February.
- New orders for computers and electronic products rose 0.8% month-over-month after declining 1.9% in February.
- New orders for transportation equipment jumped 7.7% after increasing 1.8% in February.
- Shipments of nondefense capital goods orders excluding aircraft, which factors into GDP computations, increased 0.2% month-over-month after declining 0.6% in February.
Big Picture
- The key takeaway from the report is that it matched the framework of a soft landing for the economy, with nondefense capital goods orders excluding aircraft -- a proxy for business spending -- increasing 0.2% on the heels of a 0.4% increase in February.
| Category | MAR | FEB | JAN | DEC | NOV |
| Total Durable Orders | 2.6% | 0.7% | -6.9% | -0.3% | 5.4% |
| Less Defense | 2.3% | 1.5% | -7.9% | 0.0% | 6.8% |
| Less Transport | 0.2% | 0.1% | -0.3% | -0.2% | 0.5% |
| Transportation | 7.7% | 1.8% | -18.3% | -0.6% | 15.3% |
| Capital Goods | 6.0% | 0.3% | -17.0% | -1.4% | 12.9% |
| Nondefense | 5.4% | 2.7% | -21.1% | 0.1% | 18.2% |
| Nondefense/nonaircarft (core cap gds) | 0.2% | 0.4% | -0.3% | -0.6% | 0.9% |
| Defense Cap Goods | 10.6% | -13.9% | 20.2% | -13.3% | -16.3% |
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