✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

U.S. durable goods orders rise 1.9 pct in April

Published 05/28/2009, 08:31 AM
Updated 05/28/2009, 08:40 AM

WASHINGTON, May 28 (Reuters) - New orders for long-lasting U.S. manufactured goods rose more than expected in April, posting their biggest gain in 16 months, according to government data on Thursday that suggested the recession was winding down.

April's 1.9 percent increase was the biggest percentage advance since December 2007, when orders rose 4.1 percent, the Commerce Department said.

However, March orders were revised sharply lower, falling 2.1 percent from the previously reported 0.8 percent decline.

Analysts polled by Reuters had expected overall new orders to rise 0.4 percent in April, and orders excluding transportation to ease 0.3 percent.

New orders excluding transportation climbed 0.8 percent in April after declining 2.7 percent in March, boosted by orders for communications equipment, machinery and fabricated metal products.

However, there were some dark spots in the report. Civilian aircraft and parts tumbled 6.8 percent after surging 7.5 percent in March.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, fell 1.5 percent in April. The prior month was revised to show a 1.4 percent decline, previously reported as a 0.4 percent gain. (Reporting by Lucia Mutikani; Editing by Neil Stempleman)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.