Economy
Durable Goods Fall in January on Transportation
February 28, 2023
New orders for US-manufactured durable goods fell 4.5% in January month over month to a seasonally adjusted $272.3 billion, according to the US Census Bureau. They have now been down two of the last three months, according to Census data.
Transportation equipment, also down two of the last three months, drove the decrease in January, sliding 13.3% to $92.8 billion, Census said.
Excluding transportation – which includes big-ticket, non-steel-intensive items such as aircraft – new orders increased 0.7 percent.
New orders for primary metals ticked up 0.5% to a seasonally adjusted $21 million in January vs. December. New orders for fabricated metal products increased 0.1% to $36.2 million in the same comparison.
Click here for more detail on the December advance report from the US Census Bureau on durable goods manufacturers’ shipments, inventories, and orders. See also Figure 1 below.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Economy

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.