New orders
New factory orders for manufactured goods
increased 1.8 percent or $6.7 billion in March to $370.5 billion. This follows a
0.1 percent decrease in January. This is higher than the consensus
estimate of a 1.5 percent increase and ends six consecutive month-to-month
declines. Year to date, new orders for 2001 are 3.2 percent below the same
period a year ago; new orders for the first quarter are 2.8 percent below the
fourth quarter.
New orders for manufactured durable goods increased $6.9
billion or 3.5% to $206.3 billion, revised from the previously announced 3.0%
increase. Transportation equipment had the largest increase, $10.4 billion or
24.8% to $52.5 billion. Shipbuilding, tanks and all component industries showed
gains. Electronic and other electrical equipment, led by electronic components,
decreased $2.2 billion or 5.5% to $37.3 billion. Industrial machinery and
equipment declined $1.2 billion or 2.8% to $41.0 billion. Primary metals, down
six consecutive months, fell $0.3 billion or 2.0% to $13.6 billon.
New
orders for nondurable goods, down six of the last seven months, decreased $0.2
billion or 0.1% to $164.2 billion. A decline in petroleum, coal products
and textile mill products more than offset an increase in food products.
Shipments
Shipments of durable goods in March increased
$1.6 billion or 0.8% to $202.0 billion, revised from the previously published
0.1% increase. This was the first increase since September 2000, ending a streak
of five consecutive months of decline. Transportation equipment had the largest
increase, $2.7 billion or 6.1% to $46.1 billion. All component industries, led
by motor vehicles and parts, increased. This was the largest increase since May
2000. Instruments and related products increased $0.4 billion or 2.6% to $16.0
billion. Electronic and other electrical equipment, down five of the last six
months, decreased $0.9 billion or 2.3% to $38.9 billion, due mostly to
electronic components.
Shipments of nondurable goods, down six of the
last seven months, decreased $0.1 billion or 0.1% to $164.5 billion. Petroleum
and coal products had the largest decrease, $0.3 billion or 1.5% to $19.5
billion.
Unfilled Orders
Unfilled orders for durable goods in
March increased $4.3 billion or 0.8% to $573.3 billion, revised from the
previously published 0.9% increase. Transportation equipment showed the greatest
gains in this category, $6.5 billion or 2.5% to $268.7 billion, led by
shipbuilding and tanks. Electronic and other electrical equipment, down four
consecutive months, decreased $1.6 billion or 1.7% to $93.6 billion, due to
electronic components. Primary metals, down 16 or the last 17 months, decreased
$0.5 billion or 1.6% to $28.4 billion. This is the largest decrease since
January 1999.
Inventories
Inventories of durable goods decreased $2.9
billion or 0.9% in March to $308.0 billion. This is the largest decrease since
December 1998. Electronic and other electrical equipment had the largest
decrease, $1.2 billion or 2.4% to $48.0 billion. This was the sector's
largest decline since March 1975. Transportation equipment declined $1.1 billion
or 1.6% to $67.1 billion.
Inventories of nondurable goods increased slightly
to $182.9 billion. Increases in food, and chemicals and allied products offset
decreases in petroleum and coal products.
By stage of fabrication,
March finished goods increased 0.7% in durables and increased 0.4% in
nondurables. Work in process decreased 0.8% in durables and 0.5% in nondurables.
Materials and supplies decreased 1.3% in durables and 0.3% in nondurables.
Read the latest report from the Bureau of the Census.