U.S. Orders Of Durable Goods Fall By 0.7% During April
(Kitco News) -Orders for durable goods in the U.S. fell by 0.7% to $231.2 billion during April, according to a Commerce Department report Friday. This was slightly stronger than forecast.
Consensus expectations compiled by various news organizations called for durables to be down by somewhere around 1% or 1.1%.
The government’s durables report covers items with an expected life of at least three years, such as kitchen appliances, computers, furniture, autos and airplanes. The decline follows four straight increases, including a rise of 2.3% in March.
Excluding transportation, new orders decreased 0.4%. Excluding defense, new orders decreased 0.8%. Transportation equipment, down following two consecutive monthly increases, led the decrease with a fall of 1.2%.
Shipments of manufactured durable goods in April, down three of the last four months, decreased 0.3% to $233 billion. This followed a 0.1% March decrease.