New Orders in Manufactured Durable Goods Up in April
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Stephen Brashear/Getty Images(NEW YORK) — An increase in durable goods orders suggests economic growth may be holding steady this spring. U.S. orders for long-lasting manufactured goods were up in April, led by demand for non-defense aircraft and parts, which increased by $1.9 billion, according to the U.S. Department of Commerce.
Following a 5.9 percent decrease in March, new orders were up two of the last three months. In April, orders increased 3.3 percent to $222.6 billion, a $7.2 billion jump.
Excluding transportation, new orders increased 1.3 percent. Overall shipments decreased 0.6 percent and capital goods shipments fell 3.3 percent. Unfilled orders increased 0.3 percent, and inventories rose 0.4 percent in April, according to the report.
Factories had been seeing fewer orders at the start of the year, in part because slower global growth had reduced demand for U.S. exports. Many economists believe U.S. growth is slowing to around two percent and could stay near that level for the rest of the year.
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