Durable Goods Orders Beat Expectations in April
Nationwide, new orders for durable goods climbed 3.3% in April, according to a May 24 report from the U.S. Census Bureau. This was well in excess of the 1.3% gain forecasted by economists surveyed by Dow Jones, and it was welcome news to a sector that saw sales drop 5.9% in March.
Sales of durable goods—those expected to last three years or more—are a key indicator of the overall health of domestic manufacturing. This report presents seasonally adjusted and non-seasonally adjusted month-over-month and quarterly trend data for a number of industries.
Transportation Equipment (8.1% growth nationwide) led the April advances, thanks in large part to a $1.9 billion increase in the sale of nondefense aircraft and parts.