New orders for manufactured durable goods have increased for nine consecutive months after a 3.4% increase in January.
Durable goods orders are an economic indicator released monthly that reflects new orders placed with domestic manufacturers for delivery of factory hard goods in the near term. This report is broken down into two parts. The first part is the advance report on durable goods, and the second part is the manufacturer’s shipments, inventories and orders. These goods are meant to be expensive and last for three years or longer. These types of goods include industrial machinery, computers, raw steel, and airplanes.
This report is a key economic indicator for investors monitoring the health of economies. Investors look at orders for factory hard goods to help them see how busy, or how slow, factories could be in the future. Orders placed in the current months may provide work in factories for many months to come. Businesses and consumers generally place orders for durable goods when they are confident the economy is improving. As a result, an increase in durable goods signifies an economy could be trending upwards, and a decrease in durable goods signifies an economy could be trending downwards.
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