US durable goods orders fall 0.3% in March

24 April 2008 16:30  [Source: ICIS news]

TORONTO (ICIS news)--New orders for US durable goods fell 0.3% in March to $212.2bn (€133.7bn) from February, mainly due to a decline in transportation, the Department of Commerce said on Thursday.

 

The decline, following a 0.9% drop in February, marked the third consecutive monthly decrease in new orders, it said.

 

Excluding transportation equipment – which saw the sharpest decline, dropping  4.6% to $60.3bn – new orders increased 1.5%.

 

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

 

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

 

Unfilled orders for manufactured durable goods increased $7.3bn or 0.9% to $830.1bn in March, the highest level since the data series was begun in 1992. 

 

Inventories increased $3.5bn or 1.1% to $327.1bn in March, also at the highest level since 1992.

US durable goods orders and inventories

 

March ($bn)

March vs February  (%)

New orders

212.2

-0.3

Unfilled orders

830.1

0.9

Total inventories

327.1

1.1

  ($1 = €0.63)


By: Stefan Baumgarten
+1 713 525 2653



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