US durable goods orders down 1.7% in February

26 March 2008 14:18  [Source: ICIS news]

MUMBAI (ICIS news)--New orders for US durable goods in February fell 1.7% to $210.6bn (€134.8bn) from the previous month, driven by a 13.3% decrease in the machinery sector, the US Commerce Department said on Wednesday.

This was the second consecutive monthly decrease following a revised 4.7% fall in January. New orders for machinery fell to $27.1bn, following two consecutive monthly increases.

Unfilled orders for manufactured durable goods increased 0.8% to $820.6bn, the department said. Unfilled orders have increased in 33 out of the past 34 months.

February's unfilled orders were at their highest level since the department started keeping track of the statistic in 1992.

Inventories of durable goods, up seven of the last eight months, rose 0.5% to $323.7bn, also the highest level since the department started compiling records.

Durable goods are manufactured products meant to last at least three years and include such items as automobiles, electrical appliances, transportation and manufacturing equipment.

Many durable goods such as computers, washing machines and cars, are major downstream markets for chemicals and chemicals-based products and components.

US durable goods orders and inventories

	February ($bn)	February vs January (%)	January vs December (%) (r)
New orders	210.6	-1.7	4.7
Unfilled orders	820.6	0.8	0.8
Total inventories	323.7	0.5	0.6

R: revised; *seasonally adjusted

($1 = €0.64)

By: Aaron Rodrigues
+65 6780 4359

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