Durable Goods Orders Dip in March

By April 24, 2013Economy

Today the Census Bureau released the Durable Goods report for March which showed a 5.7 percent decrease. This is yet another sign that the U.S. manufacturing sector remains weak, suggesting that growth is very modest at best.

Much of the decline in March was in the aircraft sector.  But, even when you exclude transportation, new orders fell 1.4 percent. New durable goods orders were down mostly across the board, with the exception of motor vehicles and computers and electronics.

In a repeat similar to last year manufacturing seems to be slowing. Businesses are still very concerned about the impact of sequestration as well as slowing global growth. Clearly Washington’s policies are having an impact on the economy as we see from today’s report.

Chad Moutray is chief economist, National Association of Manufacturers.

Chad Moutray

Chad Moutray

Chad Moutray is chief economist for the National Association of Manufacturers (NAM) and the Director of the Center for Manufacturing Research for The Manufacturing Institute, where he serves as the NAM’s economic forecaster and spokesperson on economic issues. He frequently comments on current economic conditions for manufacturers through professional presentations and media interviews. He has appeared on Bloomberg, CNBC, C-SPAN, Fox Business and Fox News, among other news outlets.
Chad Moutray

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