US Durable Goods Orders declined by 1.4%, or $4.4 billion, to $315.5 billion in February, according to the US Census Bureau report released on Tuesday [1]. This decrease follows a 0.5% decline in January and is notably worse than the market expectation for a 0.5% decrease [1]. The press release highlighted that excluding transportation, new orders actually increased by 0.8%, while excluding defense, new orders decreased by 1.2% [1]. Transportation equipment, which has been down four of the last five months, was the primary driver of the overall decline, falling $6.1 billion or 5.4% to $106.1 billion [1].
Despite the disappointing headline figure, the market reaction has been muted. The US Dollar Index was marginally lower on the day at 99.92 at the time of reporting, indicating that the data did not have a significant immediate impact on the currency's performance [1].
No forward-looking statements or analyst opinions were provided in the source article [1].
CONCLUSION
US Durable Goods Orders posted a larger-than-expected decline in February, primarily due to weakness in transportation equipment. However, the market response was limited, with the US Dollar Index showing only a marginal decrease. The data suggests ongoing softness in durable goods, but immediate market impact appears contained.