Durable Goods orders fell after recent increases, as decline in primary metals orders offset a gain in bookings for fabricated metal.In April durable goods orders dropped by -6.30 % to $296 billions, a decrease by $20 billions from $316 in March on the seasonally adjusted basis. Without a strong manufacturing sector, it is hard to see how economic growth can be realized. New orders jumped by 4.54 % for the year, and shipments by 6.45 %. The increase in orders has been spearheaded by a growth among U.S. manufacturers. They are seeing greater demand for a variety of goods, including autos, passenger jets, fabricated metals and machinery. Durable goods are big-ticket items such as autos, planes, appliances, furniture and computers designed to last at least three years. While orders jump around from month to month, they have gradually been increasing.

Shipments increased in April by 0.38 % to $301 billions, an increase of $1 billions from $299 in March on the seasonally adjusted basis, reported by the U.S. Commerce Department. Excluding transportation shipments fell by -0.12 %.

In March new orders were revised to 9.31 % growth to $316 billions and shipments to $299 billions an increase by 2.45 %.

Manufacturing New Orders		Primary Metals New Orders		Capital Goods New Orders		Transp. Equip. New Orders
-7.94%	4.19%	-0.08%	-1.09%	-14.62%	0.98%	-17.08%	2.93%
*M/M*	Y/Y	M/M	Y/Y	M/M	Y/Y	M/M	Y/Y

What's more, demand for big-ticket outside the defense and transportation sectors, a category known as core capital goods, usually declines in the first month of a new quarter based on long-standing business purchasing habits. What's more, orders for core capital goods decreased by -1.32 % on the seasonally adjusted basis and inventories by -1.32 % %.
Such core capital goods orders are considered the best gauge of capital spending by businesses.
Core capital goods orders increased by 1.26 % and shipments by 1.30 % from March 2024.
The Commerce Department announced total durable goods inventories edge up by 0.15 % to $587 billions, an increase of $1 billions from $586 in March in April on the seasonally adjusted basis, as inventories of defense aircraft and parts grew 1.21 % to $15 billions, accounting for 2.62 % of total durable goods inventories. Government purchases of defense products are uneven and can sometimes distort the data. Inventory to shipments ratio fell to 1.95 from 1.96 in the previous month.

Unfilled orders have increased by smaller rate than a month ago, unfilled booking advanced by 0.04 % on the seasonally adjusted basis, led by 0.45 % growth in other durable goods unfilled orders, representing 1.03 % for total unfilled bookings. total durable goods inventories rose by 0.81 % over the past 12 months.


New Orders / Shipments Ratio	Inventory / Shipments Ratio
New orders / shipments ratio for total durable goods was 0.99. Excluding transportation new orders / shipments ratio was 0.97. Excluding defense new orders / shipments ratio was 0.98.	Inventory / shipments ratio for total durable goods was 1.95. Excluding transportation Inventory / shipments ratio was 1.96. Excluding defense Inventory / shipments ratio was 1.95.

Shipments Seasonally Adjusted, in millions $	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	300,608	299,465	292,311	288,882	287,353	284,708
Excluding transportation	202,843	203,089	195,684	194,181	194,128	194,002
Excluding defense	283,993	282,954	275,189	271,677	270,095	267,281
Manufacturing with unfilled orders	208,161	205,089	206,064	204,814	201,405	198,781
Primary metals	26,066	26,244	27,577	27,175	26,904	27,064
Fabricated metal products	40,316	40,384	36,811	36,577	36,637	36,684
Machinery	38,299	37,883	37,695	37,460	37,599	37,509
Computers & electronic products	31,268	31,336	30,740	30,377	30,068	30,156
Computers & related products	2,513	2,368	2,426	2,411	2,312	2,356
Communications equipment	3,653	3,766	3,183	3,134	3,134	3,228
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	17,420	17,315	14,702	14,602	14,730	14,541
Transportation equipment	97,765	96,376	96,627	94,701	93,225	90,706
Motor vehicles & parts	5,271	5,130	5,309	5,203	61,322	61,452
Nondefense Aircraft & parts	65,008	66,902	61,757	59,454	15,340	12,708
Defense Aircraft & parts	17,261	14,107	18,609	18,734	4,966	5,137
All other durable goods	49,474	49,927	48,159	47,990	48,190	48,048
Capital goods	101,286	98,168	102,826	102,411	99,648	96,949
Nondefense capital goods	87,427	84,440	88,324	87,864	84,986	82,139
Excluding aircraft	75,433	75,489	74,689	74,020	74,534	74,080
Defense capital goods	13,859	13,728	14,502	14,547	14,662	14,810

New Orders Seasonally Adjusted, in millions $	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	296,288	316,215	289,291	286,602	276,059	282,360
Excluding transportation	197,537	197,121	190,944	189,702	189,943	189,337
Excluding defense	279,265	301,827	271,327	269,305	258,221	264,519
Manufacturing with unfilled orders	208,789	226,792	207,920	207,402	194,984	201,265
Primary metals	26,117	26,138	27,565	27,244	26,726	26,887
Fabricated metal products	40,536	40,204	36,879	36,559	37,298	36,871
Machinery	38,119	37,809	37,621	37,529	37,496	37,412
Computers & electronic products	25,973	25,725	25,787	25,794	25,271	25,240
Computers & related products	2,464	2,314	2,454	2,428	2,267	2,300
Communications equipment	3,613	3,710	3,164	3,173	3,070	3,080
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	17,253	17,286	14,935	14,637	14,879	14,836
Transportation equipment	98,751	119,094	98,347	96,900	86,116	93,023
Motor vehicles & parts	5,041	5,322	6,349	5,809	61,133	61,251
Nondefense Aircraft & parts	64,923	66,848	61,912	59,508	7,983	14,713
Defense Aircraft & parts	18,122	37,354	19,164	20,177	5,552	5,516
All other durable goods	49,539	49,959	48,157	47,939	48,273	48,091
Capital goods	101,403	118,763	103,145	104,705	93,015	100,141
Nondefense capital goods	87,284	107,940	89,181	90,507	78,223	84,852
Excluding aircraft	74,781	75,781	74,986	75,191	74,834	74,443
Defense capital goods	14,119	10,823	13,964	14,198	14,792	15,289

New Orders Seasonally Adjusted, in millions $	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	296,288	316,215	289,291	286,602	276,059	282,360
Excluding transportation	197,537	197,121	190,944	189,702	189,943	189,337
Excluding defense	279,265	301,827	271,327	269,305	258,221	264,519
Manufacturing with unfilled orders	208,789	226,792	207,920	207,402	194,984	201,265
Primary metals	26,117	26,138	27,565	27,244	26,726	26,887
Fabricated metal products	40,536	40,204	36,879	36,559	37,298	36,871
Machinery	38,119	37,809	37,621	37,529	37,496	37,412
Computers & electronic products	25,973	25,725	25,787	25,794	25,271	25,240
Computers & related products	2,464	2,314	2,454	2,428	2,267	2,300
Communications equipment	3,613	3,710	3,164	3,173	3,070	3,080
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	17,253	17,286	14,935	14,637	14,879	14,836
Transportation equipment	98,751	119,094	98,347	96,900	86,116	93,023
Motor vehicles & parts	5,041	5,322	6,349	5,809	61,133	61,251
Nondefense Aircraft & parts	64,923	66,848	61,912	59,508	7,983	14,713
Defense Aircraft & parts	18,122	37,354	19,164	20,177	5,552	5,516
All other durable goods	49,539	49,959	48,157	47,939	48,273	48,091
Capital goods	101,403	118,763	103,145	104,705	93,015	100,141
Nondefense capital goods	87,284	107,940	89,181	90,507	78,223	84,852
Excluding aircraft	74,781	75,781	74,986	75,191	74,834	74,443
Defense capital goods	14,119	10,823	13,964	14,198	14,792	15,289

Unfilled Orders Seasonally Adjusted, in millions $	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	1,408,457	1,407,829	1,402,375	1,400,519	1,396,225	1,402,646
Excluding transportation	557,512	557,870	498,186	498,050	497,664	496,976
Excluding defense	1,169,104	1,168,884	1,155,665	1,154,651	1,150,209	1,157,210
Manufacturing with unfilled orders	1,408,457	1,407,829	1,402,375	1,400,519	1,396,225	1,402,646
Primary metals	44,490	44,439	39,911	39,923	39,784	39,962
Fabricated metal products	153,888	153,668	131,996	131,928	132,011	131,350
Machinery	142,802	142,982	131,772	131,846	131,736	131,839
Computers & electronic products	150,260	150,607	137,316	137,393	137,133	137,057
Computers & related products	1,882	1,931	1,307	1,279	1,262	1,307
Communications equipment	26,529	26,569	17,285	17,304	17,181	17,245
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	51,621	51,788	44,680	44,447	44,340	44,191
Transportation equipment	850,945	849,959	904,189	902,469	898,561	905,670
Motor vehicles & parts	41,216	41,301	33,541	33,386	33,393	33,582
Nondefense Aircraft & parts	595,794	594,933	651,199	650,644	647,218	654,575
Defense Aircraft & parts	72,488	72,718	74,399	73,359	72,786	72,200
All other durable goods	14,451	14,386	12,511	12,513	12,660	12,577
Capital goods	1,014,408	1,014,291	1,057,547	1,057,228	1,053,172	1,059,805
Nondefense capital goods	815,460	815,603	846,542	845,685	841,093	847,856
Excluding aircraft	300,541	301,193	268,367	268,070	266,834	266,534
Defense capital goods	198,948	198,688	211,005	211,543	212,079	211,949

Total Inventories Seasonally Adjusted, in millions $	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	586,738	585,860	533,152	532,755	532,997	530,633
Excluding transportation	398,217	397,605	357,907	357,821	358,416	357,969
Excluding defense	553,746	553,087	500,612	500,462	501,063	498,738
Manufacturing with unfilled orders	469,796	469,302	432,543	432,465	432,971	430,818
Primary metals	46,926	46,778	45,713	45,820	46,063	45,802
Fabricated metal products	73,599	73,464	64,602	64,579	64,639	64,556
Machinery	101,502	101,524	94,401	94,311	94,546	94,501
Computers & electronic products	66,896	66,875	54,841	54,824	54,771	54,857
Computers & related products	4,452	4,535	3,401	3,387	3,360	3,343
Communications equipment	6,803	6,818	4,843	4,830	4,841	4,881
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	28,374	28,355	25,721	25,711	25,946	25,844
Transportation equipment	188,521	188,255	175,245	174,934	174,581	172,664
Motor vehicles & parts	66,355	66,049	54,335	53,777	53,373	53,175
Nondefense Aircraft & parts	85,108	85,371	84,948	85,459	85,899	84,178
Defense Aircraft & parts	15,399	15,215	14,346	14,379	14,336	14,465
All other durable goods	80,920	80,609	72,629	72,576	72,451	72,409
Capital goods	275,802	275,811	259,965	259,962	260,500	258,979
Nondefense capital goods	249,206	249,488	232,961	233,195	234,133	232,628
Excluding aircraft	181,957	181,976	163,494	163,247	163,650	163,697
Defense capital goods	26,596	26,323	27,004	26,767	26,367	26,351

Inventory/Shipments ratio Seasonally Adjusted	April 2025 adv.	March 2025 rest.	Feb. 2025 rest.	Jan. 2025 final	Dec. 2024 adv.	Nov. 2024 rest.
Total	1.95	1.96	1.82	1.84	1.85	1.86
Excluding transportation	1.96	1.96	1.83	1.84	1.85	1.85
Excluding defense	1.95	1.95	1.82	1.84	1.86	1.87
Manufacturing with unfilled orders	2.26	2.29	2.10	2.11	2.15	2.17
Primary metals	1.80	1.78	1.66	1.69	1.71	1.69
Fabricated metal products	1.83	1.82	1.75	1.77	1.76	1.76
Machinery	2.65	2.68	2.50	2.52	2.51	2.52
Computers & electronic products	2.14	2.13	1.78	1.80	1.82	1.82
Computers & related products	1.77	1.92	1.40	1.40	1.45	1.42
Communications equipment	1.86	1.81	1.52	1.54	1.54	1.51
Semiconductors	-	-	-	-	-	-
Electrical equipment, appliances & components	1.63	1.64	1.75	1.76	1.76	1.78
Transportation equipment	1.93	1.95	1.81	1.85	1.87	1.90
Motor vehicles & parts	1.02	0.99	0.88	0.90	0.87	0.87
Nondefense Aircraft & parts	4.93	6.05	4.56	4.56	5.60	6.62
Defense Aircraft & parts	2.92	2.97	2.70	2.76	2.89	2.82
All other durable goods	1.64	1.61	1.51	1.51	1.50	1.51
Capital goods	2.72	2.81	2.53	2.54	2.61	2.67
Nondefense capital goods	2.85	2.95	2.64	2.65	2.75	2.83
Excluding aircraft	2.41	2.41	2.19	2.21	2.20	2.21
Defense capital goods	1.92	1.92	1.86	1.84	1.80	1.78

• Source U.S. Census Bureau, Manufacturing and Construction Division

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U.S. Durable-goods orders dropped

U.S. Durable Goods, Orders, Shipments, Economic Indicators

New Orders / Shipments Ratio

Inventory / Shipments Ratio