Manufacturers on backfoot: Durable-goods orders fall for third time in four months

[mahatmakanejeeves]

Source: MarketWatch, aka Dow Jones

Published: Mar 24, 2016 9:50 a.m. ET

Manufacturers on backfoot: Durable-goods orders fall for third time in four months

by Jeffrey Bartash

U.S. orders for long-lasting or durable goods fell 2.8% in February — the third drop in four months — as every major industrial sector except for autos showed declines.

Economists polled by MarketWatch had expected a seasonally adjusted 2.9% decline last month, but the details of the report show widespread weakness that underscores why the economy has slowed since last fall.

A strong dollar, weak global economy and nosedive in the U.S. energy sector have dented demand for American manufactured goods. And there’s little reason to expect a big rebound anytime soon. ... “Manufacturers continue to slide along the knife edge,” said Michael Montgomery, U.S. economist at IHS Global Insight.

Automakers were the lone standout in February. Orders rose 1.2%, reflecting strong sales of new cars and trucks. ... Booking for new airlines, however, dove 27% in what is a typically weak month for Boeing. The giant aircraft maker only received two orders last month, the fewest in 14 months.


Read more: http://www.marketwatch.com/story/us-durable-goods-orders-fall-28-in-february-2016-03-24

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Advance Report on Durable Goods Manufacturers' Shipments, Inventories, and Orders

FOR IMMEDIATE RELEASE
THURSDAY, MARCH 24, 2016, AT 8:30 A.M. EDT

Adriana Stoica
Economic Indicators Division
[phone]

M3-1 (16)-2
CB 16-50

Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders
February 2016

New Orders
New orders for manufactured durable goods in February decreased $6.6 billion or 2.8 percent to $229.4 billion, the U.S. Census Bureau announced today. This decrease, down three of the last four months, followed a 4.2 percent January increase. Excluding transportation, new orders decreased 1.0 percent. Excluding defense, new orders decreased 1.9 percent. Transportation equipment, also down three of the last four months, led the decrease, $4.9 billion or 6.2 percent to $74.2 billion.

Shipments
Shipments of manufactured durable goods in February, down two of the last three months, decreased $2.1 billion or 0.9 percent to $238.3 billion. This followed a 1.5 percent January increase. Transportation equipment, also down two of the last three months, led the decrease, $1.0 billion or 1.2 percent to $79.0 billion.

[happynewyear]

1. Welcome to stagflation

n/t

[glowing]

2. #1 there's only so many durable goods people need to buy.

#2) people need an actual income to pay for these items that are normally more expensive. When furniture companies are doing 0% interest and a 60month payment plan, you realize the pickle that everyone is in financially. And the fact that it's still a tough sale with an offer like that, you know it's time for America to receive a substantial raise.