Airliner sales boost US durable goods by 5.7% in February

26 March 2013 13:52  [Source: ICIS news]

WASHINGTON (ICIS)--New orders for US durable goods rose by 5.7% in February from January, the Commerce Department said on Tuesday, but without the 95% jump in civilian aircraft sales, overall orders for manufactured durable goods fell 0.5% last month.

In its monthly report, the department said that new orders for durable goods in February were at a seasonally adjusted pace of $232.1bn (€181.0bn), an increase of $12.4bn or 5.7% compared with January’s orders.

January had seen a 3.8% decline in durable goods sales, revised from the initial estimate of a 5.2% drop.

But the February boost in manufacturing sales was attributed almost entirely to the 95.3% jump in new orders for “nondefense aircraft”, meaning civilian airliners. 

New orders for military aircraft and automobiles also were up last month, by 7.6% and 3.8% respectively, and contributed to the overall totals.

However, with transportation equipment backed out of the total figure, the department said that durable goods orders fell by 0.5% in February.

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 autos, are major downstream markets for chemicals and derivatives used in manufacturing processes or as end-product components.

Aircraft orders often are made in multiple-plane purchases and in any given month those commitments or their lack can affect manufacturing data disproportionately.

The department also reported a $9.4bn increase in unfilled orders for manufactured durable goods last month to a seasonally adjusted total of $999.8bn, a gain of 0.9%.

Inventories of manufactured but unsold durable goods also rose in February, the department said, up by $1.6bn or 0.4% from January to a seasonally adjusted total of $376.9bn.

US durable goods orders and inventories*

 

     Feb           (bn $)

   Feb vs Jan          (%)

    Jan vs Dec (r)              (%)

New orders

232.1

5.7

-3.8

Unfilled orders

999.8

0.9

-0.1

Total inventories

376.9

0.4

0.3

r: revised  *seasonally adjusted

($1 = €0.78)

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy


By: Joe Kamalick
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