Boeing Helps Boost New Durable Goods Orders 5.7%
New orders for manufactured durable goods increased 5.7% in February to $232.1 billion, according to a Commerce Department report (link opens a PDF) released today. After falling a revised 3.8% in January, aircraft orders boosted durable goods past analysts' expectations of a 3.5% increase.
New orders for nondefense aircraft rocketed up a seasonally adjusted 95.3% for February, primarily because of a boost in Boeing orders. The corporation's sales pushed the overall transportation sector to a seasonally adjusted 21.7% gain for February. Excluding transportation, new orders for durable goods fell 0.5% overall, undercutting market projections of a 0.7% bump.
Durable-goods shipments and unfilled orders both posted modest gains, while inventories continued to climb 0.4% to $376.9 billion. Inventories have increased 16 of the past 17 months, and these newest numbers (once again) hit a new all-time high since data was first recorded in 1992.
The article Boeing Helps Boost New Durable Goods Orders 5.7% originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned and did not order a Boeing plane in February. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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