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 governmentâ€™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.