The onslaught of rising rates, pessimism and inflation hit the American manufacturing sector again in February. Durable goods orders showed an unexpected decrease in headline orders while the January decrease was revised even lower. Durable goods orders fell 1.0% month-over-month in February (consensus 1.6%) following a downwardly revised 5.0% decrease (from 4.5%) in January. Excluding transportation, durable goods orders were unchanged month-over-month (consensus 0.3%) following a downwardly revised 0.4% increase (from 0.7%) in January.
US Durable Goods February 2023
- Durable Goods Orders Feb P: -1.0% (exp 0.2%; prevR -5.0%)
- Durable Ex Transportation Feb P: 0.0% (exp 0.2%; prevR 0.4%)
- Capital Goods Orders Nondef Ex Air Feb P: 0.2% (exp -0.2%; prevR 0.3%)
- Capital Goods Nondef Ex Air Feb P: 0.0% (exp 0.2%; prevR 0.9%)
- New orders for nondefense aircraft and parts declined 6.6% month-over-month after falling 56.3% in January.
- New orders for primary metals increased 0.3% month-over-month after increasing 1.0% in January.
- New orders for machinery fell 0.5% month-over-month after increasing 0.7% in January.
- New orders for fabricated metal products increased 0.4% month-over-month after decreasing 0.3% in January.
- New orders for computers and electronic products decreased 0.1% month-over-month after increasing 0.2% in January.
Source: US Census Bureau
From The TradersCommunity NewsDesk