Durable Goods Orders Highest Since July 2014

Growth of durable goods new orders remained a positive sign for manufacturing production and capital equipment spending in March.

(Positive) Real durable goods new orders in March 2018 were $282,498 million. This was the highest level of new orders since July 2014. Compared with one year ago, durable goods new orders grew 7.1 percent, which was the 10th straight month of growth and the 14th in the last 15. This was the fifth consecutive month with growth faster than 7.0 percent. The annual rate of growth was 5.9 percent, accelerating for the 10th month to its fastest rate since July 2012. 

Motor vehicle and parts orders increased 4.1percent compared with one year ago. Annually, order growth accelerated at its fastest rate since May 2016.

Aerospace orders increased 34.1 percent in March compared with one year ago, growing more than 17 percent for the seventh time in eight months. Annually, the rate of growth was virtually unchanged but grew for the sixth time in seven months.

The trend in real durable goods new orders is very positive for capital equipment consumption in 2018.

Accelerating Growth: aerospace, computers/electronics, durable goods, motor vehicle/parts, oil/gas-field/mining machinery, power generation, primary metals, ship/boat building, total capital goods

Decelerating Growth: construction materials, fabricated metal products, HVAC, machinery/equipment, off-road/construction machinery

Decelerating Contraction: appliances

Accelerating Contraction: 

Reports

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World Machine Tool Survey

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Capital Spending Survey

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Gardner Business Index

A diffusion index measuring month-to-month changes in activity at durable goods and discrete parts manufacturing facilities.