Durable Goods Show Mixed Results, New Orders Down For April
Durable goods new orders decreased 3.6% in April to $189.9 billion. Right after a 4.4% increase in March, new orders have been down two out of three months. Transportation equipment decreased the most with 9.5% ($4.9 billion) to $46.7 billion.
Shipments for durable goods have been up for the past four months, but have now decreased in April 1.0% to $194.9 billion. After four months of increases, transportation equipment again had the largest decrease in April of 3.0% to $46.6 billion.
Unfilled orders have seen positive results for the past year, with increases for twelve of thirteen months. April continued this trend with a 0.2% increase to $849.5 billion. Machinery hit the highest level since records began in 1992. Machinery has been up fifteen consecutive months and had the largest increase of 2.2% to $103.6 billion.
Durable goods inventories were up sixteen consecutive months, again increased in April 0.9% to $350.5 billion. Both inventories and transportation equipment hit record highs since records began in 1992. Also up sixteen consecutive months, transportation equipment had the largest increase of $1.0 billion to $106.1 billion. Capital goods showed mixed results. Nondefense new orders for capital goods in April decreased 7.3% to $67.6 billion. Shipments also decreased 1.6% to $66.0 billion. However, unfilled orders and inventories increased, 0.3% and 1.4% respectively. Defense new orders decreased 5.8% to $8.0 billion, along with shipments decreasing 4.5% to $8.1 billion.
(Source: U.S. Census Bureau)