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
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.