US March advanced durable goods orders 9.2% versus 2.0% estimate.

• Prior month 1.0% revised to 0.9%
• durable goods orders 9.2% which is the highest level since July 2024 when it rose 9.8%.
• Nondefense capital goods orders ex-air 0.1% versus 0.2% expected
• Prior nondefense capital goods orders ex-air -0.3% (revised from -0.2%
• Ex transport 0.0% versus +0.3%. Prior month 0.7%
• Ex defense +10.4% versus +0.8% per month

Transportation had a huge impact on the durable goods orders as threats of tariff probably influenced those numbers.. Also excluding defense, orders were up a March 10 .4%. Durable goods have been up for three consecutive months.

Transportation equipment has been up for three consecutive months and led the increases month with a gain of $26.5 billion or 27% to $124.6 billion

Looking at Shipments:

• March durable goods shipments rose for the 4th straight month, up $0.2B (+0.1%) to $293.0B

• February shipments rose 1.3%

• Primary metals led gains, up $0.2B (+0.8%) to $27.8B, rising in 6 of the past 7 months

• Unfilled Orders (Durable Goods)

  • Rose $27.7B (+2.0%) to $1,429.6B in March (up 8 of last 9 months)

  • Driven by transportation equipment: +$28.1B (+3.1%) to $931.6B

• Inventories (Durable Goods)

  • Increased $0.5B (+0.1%) to $533.3B in March (up 5 straight months)

  • Machinery led the gain: +$0.2B (+0.2%) to $94.5B

• Capital Goods (Nondefense)

  • New orders surged $26.1B (+29.4%) to $114.9B

  • Shipments fell $1.6B (-1.9%) to $86.1B

  • Unfilled orders rose $28.8B (+3.4%) to $875.6B

  • Inventories increased $0.7B (+0.3%) to $233.5B

• Capital Goods (Defense)

  • New orders declined $1.3B (-9.4%) to $12.2B

  • Shipments dipped slightly (-0.2%) to $14.6B

  • Unfilled orders fell $2.4B (-1.1%) to $208.0B

  • Inventories rose $0.3B (+1.1%) to $27.2B

This article was written by Greg Michalowski at www.forexlive.com.