New orders for manufactured goods made in the US fell 0.5 percent from a month earlier in February 2019, after being unchanged in January and compared to market expectations of a 0.6 percent drop. Transportation equipment orders led the decline, falling 4.5 percent (vs 0.4 percent in January), due to civilian aircraft (-31.1 percent vs 9.2 percent). Demand also decreased for: machinery (-0.6 percent vs 2.1 percent); computers and electronic products (-0.5 percent vs -1.9 percent); and furniture and related products (-1.9 percent vs 0.2 percent). By contrast, orders rose for electrical equipment, appliances, and components (1 percent vs 1.1 percent); primary metals (0.6 percent vs -1.8 percent); and fabricated metal products (0.1 percent vs -0.5 percent). Orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, edged down 0.1 percent. Year-on-year, factory orders rose 2.4 percent in February. Factory Orders in the United States averaged 0.28 percent from 1991 until 2019, reaching an all time high of 10.60 percent in July of 2014 and a record low of -10 percent in August of 2014.
Factory Orders in the United States is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 0.10 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 0.30 percent in 2020, according to our econometric models.