US April durable goods orders down 2.4 pct vs revised 1.4 rise in March 28.05.2003 14:33 Headlines
WASHINGTON (AFX) - Orders for durable goods fell 2.4 pct in April from the
previous month, the Commerce Department said.
This is the largest monthly decline since September, 2002.
The fall in orders was larger than expected. The consensus forecast of Wall
Street economists was for orders to decline 1.3 pct in April.
Orders rose a revised 1.4 pct in March, down from the previous estimate of a
1.5 pct increase.
On a year-on-year basis, April orders rose 0.6 pct.
The fall in durable goods orders in April was widespread.
Excluding the transportation sector, durable goods orders fell 1.2 pct in
April, after a 1.1 pct rise in the previous month.
Excluding the defense sector, durable goods orders fell 1.5 pct after rising
0.7 pct in the previous month.
Shipments of durable goods fell 0.7 pct in April, compared with a 0.5 pct
rise in March.
Unfilled orders fell 0.3 pct in April, following a 0.3 pct rise in the
previous month.
Inventories fell 0.1 pct in April after falling 0.2 pct in March.
Transportation equipment orders fell 5.4 pct in April, after rising 2.1 pct
in March.
Within the category, motor vehicles and parts orders fell 3.0 pct following
a 1.6 pct fall in March.
Offsetting this decline in transportation orders, non-defense aircraft and
parts orders rose 48.6 pct, after falling 16.9 pct the previous month.
Capital goods orders fell 3.4 pct in April after rising 5.1 pct in the prior
month.
Within the category, orders for non-defense capital goods, often a key
indication of business plans to expand and modernise, fell 0.3 pct after rising
3.1 pct in March.
Excluding aircraft, non defense capital goods fell 3.0 pct after rising 4.7
pct in March.
Defense capital goods orders fell 19.4 pct in April following a 16.4 pct
rise in March.
Machinery orders fell 3.7 pct after rising 3.9 pct the previous month.
Computers and electronic products orders were unchanged in April after
rising 2.5 pct in March.
Within the category, orders for communications equipment fell 5.1 pct,
following a 0.1 pct fall in March.
New orders for electrical equipment fell 3.6 pct in April, compared with a
3.5 pct rise in March.
Primary metal orders rose 1.8 pct after falling 4.7 pct in March.
corbett.daly@afxnews.com
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