WASHINGTON — The value of U.S. durable goods new orders rose by 2.6% in March, much faster than the 1.7% increase expected by analysts in an MNI survey. Transportation orders rose 7.6%, but new orders excluding transportation orders were flat, according to data from the Commerce Department.
The soft reading for new orders excluding transportation was below the 0.5% gain expected and reflected offsetting movements in the categories. Orders excluding transportation have been on a general upward trend in recent months, so this pause is not a cause for concern.
Nondefense aircraft and parts new orders posted a second straight double-digit gain in March, rising 44.5% after a 39.1% gain in February. Defense aircraft and parts fell 9.4% after a 29.2% increase in February.
Motor vehicles orders posted a 0.1% increase. In addition, transportation orders excluding motor vehicles and aircraft rose by 2.7% following a 12.0% increase in the previous month, according to an MNI calculation.
Nondefense capital goods new orders rose by 6.0%, but were down 0.1% excluding civilian aircraft.
Durable goods shipments rose by 0.3% in March, with nondefense capital goods shipments rising 2.2%, but down 0.7% excluding civilian aircraft shipments, according to an MNI calculation.
Durable goods inventories were up 0.1% in the month, while unfilled orders posted a 0.8% increase.
