Core U.S. Capital Goods Orders Post Unexpected April Gain - Modern Distribution Management

Core U.S. Capital Goods Orders Post Unexpected April Gain

The U.S. Census Bureau also said that data for March was revised higher to show that core capital goods declined 0.6% as opposed to the previously reported drop of 1.1%.
Durable Goods December 2020

New orders for key U.S.-manufactured capital goods unexpectedly increased in April, according to data released by the U.S. Census Bureau on May 26.

Orders for non-defense capital goods excluding aircraft, also known as “core” capital goods, rose 1.4% in April. Data for March was revised to show that core capital goods declined 0.6%, up from the previously reported decrease of 1.1%. Orders for core capital goods increased 2.7% year-over-year in April.

Economists polled by Reuters had forecast orders for core capital goods would fall 0.2% in April.

Orders for electrical equipment, appliances and components dropped 1% while orders for computers and electronic products fell 1.4%. Orders for machinery increased 1%.

New orders for manufactured durable goods — items that are meant to last three years or more — grew 1.1% in April, following a 3.3% increase in March. A 3.7% surge in transportation equipment drove growth in April. Excluding transportation, new orders decreased 0.2%, and excluding defense, new orders fell 0.6%.

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