Shipments of HVAC equipment continued to climb on a month-over-month basis but were down from last year. February HVAC shipments totaled 1.700 million units, up 1.9% from January but were down 1.5% compared to the 1.727 million unit total in February 2024.
Shipments of tractors and combines continued to rebound in March, however that is mainly due to seasonality. March tractor and combine shipments (U.S. and Canada) totaled 18,066 units, up 68.1% from February, but was still down 11.0% from March last year.
After a slow start to the year, new home sales rebounded in February. February new home sales came in at a 676,000 unit rate, up 1.8% from January and up 5.1% from February 2024.
New residential construction rebounded in February after starting off the year on a slow note. February new housing starts came in at a 1.501 million unit rate, up 11.2% from January, but still down 2.9% compared to the 1.546 million unit rate in February 2024.
Shipments of HVAC equipment started the year on a stronger note after sliding the previous two months. HVAC equipment shipments totaled 1.669 million units, up 8.6% from December, but were down 0.6% from the 1.678 million unit total in January 2024.
New orders for manufactured durable goods rebounded in January after sliding the previous two months, coming in at a $286.0 billion rate. This is up $8.7 billion or 3.1% after sliding 1.8% in December.
Business activity in the New York region increased in February after declining to start the year. The February Empire Manufacturing Index came in at 5.7, up from -12.6 in January and the highest reading since November.
Business activity in the New York region increased in February after declining to start the year. The February Empire Manufacturing Index came in at 5.7, up from -12.6 in January and the highest reading since November.
Economic activity in the manufacturing sector expanded in January, the first expansion after 26 consecutive declines.
Economic activity in the manufacturing sector expanded in January, the first expansion after 26 consecutive declines.
