Durable Goods Orders Rise in April, Led by Trucks, Planes
By Bill Koenig
New orders for US durable goods rose 3.4% in April, paced by transportation equipment, the Commerce Department said today.
Such orders totaled $235.9 billion last month, up from $228.3 billion in March, the department said in a monthly report by the US Census Bureau, part of the department. Economists polled by the MarketWatch news site forecast an average gain of 0.9%.
Transportation equipment orders surged 8.9% in April to $87.1 billion, according to the report as more cars, trucks and planes were ordered. Excluding transportation, new orders only rose 0.4% last month.
The auto industry has been one of the primary manufacturing bright spots for the past year amid continued strong sales of light trucks. Makers of vehicles and parts added 6100 jobs in April, the main reason manufacturing added 4000 jobs last month, according to the Bureau of Labor Statistics.
Within the transportation category, new orders for motorized vehicles and parts rose 2.9% to $56 billion in April. The gain followed a 3.2% decline in March.
New orders for commercial aircraft and parts soared 65% to $16.9 billion last month compared with March. That followed two consecutive monthly declines.
Other categories were mixed. Gainers included fabricated metal products, up 3.1% to $30 billion. Decliners included machinery, down 1.9% to $29.2 billion.
Published Date : 5/26/2016