WASHINGTON – Federal data released Friday shows that manufacturing orders across the United States held steady in February, marking the second month in a row without change.
The Commerce Department’s Census Bureau reported the flat performance exceeded analyst predictions, which had forecast a 0.2% drop. When compared to the same period last year, orders climbed 3.7%.
Data releases continue to lag behind schedule due to disruptions from the previous year’s federal government shutdown, according to the Census Bureau.
The manufacturing sector, representing just over 10% of the nation’s economic output, had been showing recovery signals after taking hits from extensive trade tariffs implemented under former President Trump’s administration. However, escalating oil costs – up more than 30% due to Middle East conflicts involving the U.S. and Israel against Iran – threaten to slow this rebound.
Aircraft orders for commercial use dropped sharply by 28.6%. Meanwhile, several industries posted gains, including computer and electronic equipment, industrial machinery, basic metals, and metal fabrication.
The Census Bureau also revised upward its figures for non-defense capital equipment orders excluding aircraft – considered an indicator of corporate investment intentions. These orders actually grew 0.7% in February, higher than the 0.6% initially reported earlier this week.
Deliveries of these core capital goods also received an upward revision, rising 1.0% rather than the previously stated 0.9%.
