Orders for US-manufactured goods rebounded back to positive territory in March, following the contraction recorded the previous month. QQQ is down 1.62%, while SPY is down 0.97%.
Source: US Census Bureau
QQQ is down 1.82%, while SPY is down 1.13%.
New orders for manufactured durable goods for the month stood at $275.0 billion, indicating an increase of $2.3 billion or 0.8% after the 1.7% drop in February. New orders excluding transportation jumped by 1.1% and excluding defense by 1.2%.
Shipments for the month grew by $3.3 billion or 1.2% to $274.2 billion, while unfilled orders inched up by $5.3 billion or 0.4% to $1.294 trillion, with the growth of both indicators led by transportation equipment.
Inventories grew by $3.3 billion or 0.7% to $482.9 billion, led by transportation equipment which increased by $1.5 billion or 1.0% to $156.0 billion. Nondefense new orders for capital goods fell by $0.5 billion or 0.5% to $90.0 billion, while defense new orders slipped by $0.7 billion or 5.6% to $11.3 billion.
The February figure was revised upward to $545.4 billion from $542.0 billion.