(March 26, 2008) – Another ugly one. The Census Bureau released their Advance Report On Manufacturers’ Shipments, Inventories, and Orders this morning, announcing that new orders for manufactured durable goods in February decreased $3.6 billion or 1.7% to $210.6 billion. This was the second consecutive monthly decrease and followed a 4.7% January decrease.
Shipments of manufactured durable goods in February, down three of the last four months, decreased $6.0 billion or 2.8% to $210.5 billion following a 2.3% January increase. Unfilled orders for manufactured durable goods in February, up thirty-three of the last thirty-four months, increased $6.1 billion or 0.8% to $820.6 billion, following a 0.8% January increase.
Inventories of manufactured durable goods in February, up seven of the last eight months, increased $1.6 billion or 0.5% to $323.7 billion. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 0.6% January increase.