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Financial News: U.S. Durable Goods Orders Pull Back More Than

U.S. Durable Goods Orders Pull Back More Than Expected In April

05/25/2018 - 08:38:00 (RTTNews)

(RTTNews) - With orders for transportation equipment pulling back sharply, the Commerce Department released a report on Friday showing a bigger than expected decrease in new orders for U.S. manufactured durable goods in the month of April.

The Commerce Department said durable goods orders slumped by 1.7 percent in April after spiking by an upwardly revised 2.7 percent in March.

Economists had expected orders to drop by 1.4 percent compared to the 2.6 percent jump that had been reported for the previous month.

Excluding the pullback in orders for transportation equipment, however, durable goods orders climbed by 0.9 percent in April after rising by 0.4 percent in March. Ex-transportation orders had been expected to increase by 0.5 percent.

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