Several Bright Spots in Latest U.S. Economic Numbers
Shipments and orders of manufactured durable goods, increased in February according to numbers released today from the U.S. Commerce Department, while home sales slid and consumer confidence fell in March.
Shipments and orders of manufactured durable goods, increased in February according to numbers released today from the U.S. Commerce Department, while home sales slid and consumer confidence fell in March.
Shipments continued a close to non-interrupted streak of increases the past six months. They moved 1% higher in February from the month before, following a 0.7% January decrease. Shipments of transportation equipment increased the most in February, adding 1.6%, following a January drop of 1.9%. It has moved higher the past three out of four months. Excluding defense orders there was a 4.5% increase.
New orders for manufactured durable goods skyrocketed in February from January, picking up 5.7%, following a 3.8% decrease in January. The fifth gain in the last six months and the best performance since September. Much of this hike was due to a surge in new transportation orders, increasing 21.7%. Excluding them February turned in a 0.5% decrease. Excluding defense orders there was a 4.5% increase in new orders.
Durable goods are defined as items designed to last three years or more.
In a separate report the Commerce Department reported sales of new single-family homes in February fell 4.6% in February, following a 13.1% jump in January. Despite the decline, this put the annual rate for February at 411,000 units while January’s level was revised down to 431,000, the latter being the highest level since September 2008. Compared to the same time in 2012, February sales were 12.3% higher.
Some analysts warn that builders could struggle to keep up with demand for new homes and that could cause uneven sales levels the next few months rather than a reflection of buyers being less interested in new homes.
Meantime, U.S. consumers showed they remain fickle as ever, with the private group the Conference Board releasing a report that U.S. consumer confidence in the economy fell sharply in March.
“This month’s retreat was driven primarily by a sharp decline in expectations, although consumers were also more pessimistic in their assessment of current conditions,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “The recent sequester has created uncertainty regarding the economic outlook and as a result, consumers are less confident.”
This report is the opposite of what group released last week when it comes its monthly index of leading economic indicators, which is used to gauge U.S. economic activity three to six months down the road. It increased 0.5% in February, following a 0.5% gain in January and 0.4% upturn in December.
“The U.S. economy is growing slowly now, and with this reading increases hope that it may pick up some momentum in the second half of the year,” said Ken Goldstein, economist at The Conference Board. “However, this latest report does not yet capture the recent effects of sequestration, which could dampen the pickup in GDP.”
More Fleet Management

Kodiak Lines Up Fleets for Driverless Trucking
An agreement for 75 trucks, a new Texas freight lane, and progress on safety validation move Kodiak closer to its planned driverless highway launch.
Read More →
ITS Logistics Settles Religious Harassment Case
The Nevada-based logistics firm agreed to pay more than $396,000 to settle a religious harassment charge involving an employee's Jewish identity.
Read More →
Your Trucks Are Busy. That Doesn’t Mean They’re Winning.
High utilization doesn’t always mean strong margins. Looking beyond the current load can help fleets make better dispatch decisions and get more value from each truck’s time.
Read More →
Why This Trucking Recovery Is Different
Freight demand remains sluggish, but rising costs and tougher enforcement have taken enough capacity out of the market to change the outlook for motor carriers.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
PrePass Intelligence Mines Fleet Bypass, Toll and Safety Data
PrePass Intelligence helps fleets measure bypass savings, flag potential toll overcharges, and spot suspicious transactions by combining data from separate systems.
Read More →
Motive Adds AI Agents for Fleet Operations
New tools automate follow-up on fleet data, from maintenance work orders to driver alerts, with two-way voice conversations planned for later this year.
Read More →Can You Beat Our Trucking Trivia Challenge?
Test your truck knowledge with 19 trivia questions from Heavy Duty Trucking Exchange. Can you keep up with the fleet pros?
Read More →
BeyondTrucks Adds Rules Checks to Dispatch
New Compatibility Engine checks driver qualifications, equipment requirements and fleet policies before loads are dispatched.
Read More →
Diesel Prices Hijack Trucking’s Worry List
ATRI’s annual survey finds cautious optimism about freight, but diesel costs, litigation, and insurance continue to squeeze fleets. Drivers have different priorities on several issues.
Read More →
