The U.S. Census Bureau reported today that new orders for manufactured goods increased 3.4 percent in April, beating the 0.6 percent consensus forecast from briefing.com and marking a positive increase during three of the past four months.
March durable orders increased 1.9 percent.
Excluding transportation, new orders for manufactured durable goods in April increased 0.4 percent which was slightly below the 0.5 percent consensus forecast from briefing.com.
Excluding defense, new orders for manufactured durable goods in April increased 3.7 percent.
Non defense new orders for capital goods in April saw an increase of 7.8 percent
Inventories of April manufactured durable goods decreased 0.2 percent and has been down 9 of the past 10 months and follows a 0.2 decrease in March.
Machinery, down 8 of the past 9 months, led the 0.7 percent decrease.
Unfilled orders for manufactured April durable goods, increased 0.6 percent and marks a positive reading for three of the past four months.
Written By: Johnathan Schweitzer