US durable goods orders fell for first time in 5 months
WASHINGTON — U.S. orders for long-lasting manufactured goods dropped in April for the first time in five months, and a key category that tracks business investment went nowhere for the second straight month.
The Commerce Department said Friday that durable goods orders fell 0.7 per cent in April after rising 2.3 per cent in March. The April downturn was the first since durable goods orders fell 4.6 per cent in November.
Despite the April drop, American manufacturing has bounced back in recent months from a slump early last year.
Orders for transportation equipment fell 1.2 per cent last month, pulled down by a 9.2 per cent drop in the volatile commercial aircraft category. Orders for military aircraft jumped 7.1 per cent. But orders for cars, trucks and auto parts rose 0.3 per cent last month after falling in February and March.