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Market Update | May 15, 2024

On the back of strong seasonal momentum, HVAC equipment shipments totaled 1.952 million units in March, up 13.0% from February but were down 2.7% from March 2023. This was the first year-over-year decline in shipments since December. Looking on a year-over-year basis, to help smooth seasonality, the decline in A/C & heat pumps and furnaces overcame the slight increase in water heater shipments. For Q1, total HVAC equipment shipments were up 1.0% from the total in Q1 2023 but were down nearly 10% from the Q1 total in 2022.

Market Update | May 08, 2024

The April DMI, a leading indicator for non-residential construction spending, came in at 173.9, up from 164.0 in March but is below the 184.1 reading in April 2023. A rebound in the commercial planning component was partly offset by a decline in the institutional planning component. A sharp increase in data center planning, mainly to support the growing Cloud and AI infrastructure, was the leader for commercial planning.

Market Update | May 01, 2024

New orders for manufactured durable goods are up 2.6% from February and up for the second consecutive month. Excluding the volatile transportation component, new orders were up 0.2% compared to February. Nondefense new orders for capital goods (i.e. farm machinery and construction equipment) increased sharply, climbing 5.4% in March.

Market Update | April 24, 2024

New orders for manufactured durable goods are up 2.6% from February and up for the second consecutive month. Excluding the volatile transportation component, new orders were up 0.2% compared to February. Nondefense new orders for capital goods (i.e. farm machinery and construction equipment) increased sharply, climbing 5.4% in March.