New orders for U.S.-made durable goods — products meant to last three years or more — increased 2.6% in March to $283.4 billion, following February’s gain that was revised down from +1.4% to +0.7%.

Following a volatile recent demand cycle, it marked the first consecutive increase since June of 2023, and a considerable rebound from January’s 6.9% decline that was the sharpest one-month drop since April 2020.

Year-over-year, March durable goods orders increased 0.3%.

The March monthly gain matched the expectations of economists polled by the Wall Street Journal.

Most of the increase was tied to new automotives and passenger planes. Transportation equipment orders rose 7.7% to $95.9 billion. Excluding transportation, new orders narrowly rose 0.2%. Excluding defense, orders increased 2.3%. 

New orders for capital goods increased 5.4% in March to $87.6 billion.

Shipments of manufactured durable goods — down three of the past four months — were virtually unchanged in March with a $0.1 billion decrease to $282.4 billion, following a 1.2% February increase. Transportation equipment drove the decline, down 0.5% to $89.4 billion.

March unfilled orders for manufactured durable goods — up following two straight decreases — increased 0.4% to $1.40 billion, following a 0.1% February dip. Transportation equipment drove the increase, up 0.7% to $903.2 billion.

March inventories of manufactured durable goods — down seven straight months — was virtually unchanged at down $0.1 billion to $527.9 billion.

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Here’s how monthly new orders and shipments of different durable goods product categories fared in March, seasonally-adjusted, according to Census Bureau data:

Primary Metals

• Shipments: -0.6%
• New Orders: -0.5%

Fabricated Metal Products

• Shipments: +0.1%
• New Orders: +0.2%

Machinery

• Shipments: +0.7%
• New Orders: +0.1%

Computers and Electronic Products

• Shipments: 0.0%
• New Orders: +0.8%

Electrical Equipment, Appliances and Components

• Shipments: +0.4%
• New Orders: +0.1%

Transportation Equipment

• Shipments: -0.5%
• New Orders: +7.7%

All Other Durable Goods

• Shipments: +0.4%
• New Orders: +0.6%

Capital Goods

• Shipments: -1.4%
• New Orders: +6.0%