{"id":9035,"date":"2011-05-24T23:05:08","date_gmt":"2011-05-24T23:05:08","guid":{"rendered":""},"modified":"2011-05-24T23:05:08","modified_gmt":"2011-05-24T23:05:08","slug":"US-durable-goods-orders-drop-in-April","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9035","title":{"rendered":"US durable goods orders drop in April"},"content":{"rendered":"

New orders for manufactured durable goods fell in April as aircraft orders shrank nearly a third from March, official data showed on Wednesday.<\/p>\n

Orders for durable goods – big-ticket items such as planes, computers and autos that are expected to last at least three years – dropped 3.6 percent from March, the Commerce Department said.<\/p>\n

Excluding transportation, new orders were down 1.5 percent from March. Excluding defence, they were 3.6 percent lower.<\/p>\n

The decline was more than a percentage point bigger than expected by most analysts.<\/p>\n

The Commerce Department revised the March increase in orders to a 4.4 percent rise.<\/p>\n

On a 12-month basis, durable goods orders were up 4.0 percent from April 2010.<\/p>\n

Last month’s reading was weighed down by the volatile transportation sector, where airplane orders can fluctuate widely from month to month.<\/p>\n

In April, orders for commercial aircraft plunged 30.0 percent from March, while defence aircraft orders fell 8.9 percent.<\/p>\n

Manufacturing, a key driver of the US economic recovery from recession, has shown signs of losing steam in recent months.<\/p>\n

“The mitigating factor with the weak April report is that it followed a very strong March report,” said Patrick O’Hare at Briefing.com.<\/p>\n

“In this light then, it is premature to label the April disappointment as a true sign of things to come.”<\/p>\n

SOURCE<\/a>
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