Driven by a sizable decrease in transportation equipment, it followed a strong 5.1% increase in December.
The U.S. Census Bureau released its January figures for manufactured U.S. durable goods orders on Feb. 27, showing a major downswing after a strong December.
The numbers showed that January durable goods orders were down 4.5% year-over-year to $272 billion, following a December increase of 5.1%.
Transportation drove the majority of the monthly decrease. Excluding transportation, new orders increased 0.7%. Excluding defense, new orders fell 5.1%.
Transportation equipment drove the overall decrease, down 13.3% from December to $92.8 billion.
January unfilled orders were essentially unchanged year-over-year, up $0.3 billion to $1.157 billion, following a 1.1% increase in December. The January uptick was that category’s 29th consecutive month of increase.
January inventories of manufactured goods decreased 0.1% from December to $493 billion, following a 0.7% increase in December. The decrease was the first after 23 consecutive months of increase.
In Capital Goods:
- January nondefense new orders decreased 15.3% from December to $15.2 billion; shipments decreased 1.0%; unfilled orders decreased 0.1%; and inventories decreased 0.2%.
- January defense orders increased 3.8% to $218.5% billion; shipments decreased 1.2%; unfilled orders increased 0.5% and inventories increased 0.9%.
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Mike Hockett is MDM’s executive editor, having joined the publication in March 2022. He oversees MDM’s editorial content and direction, coordinates with contributing authors, conducts interviews with executives in the wholesale distribution space and serves as the editorial face of MDM at industry events. He has extensively covered the distribution and manufacturing sectors since 2014. Hockett earned a degree in print journalism from the University of Wisconsin-Eau Claire and works from his home in Madison, Wisconsin. He can be contacted at mike@mdm.com.
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