US Durable Goods decline in April but beat forecasts. | CountingPips Forex & Currency Trading Blog

May 28, 2008 - Forex Economic News

US Durable Goods decline in April but beat forecasts.

Durable goods orders in the United States fell 0.5 percent in April but managed to surpass economic forecasts according to news released by the U.S. Commerce Department today. April posted a $1.0 billion decrease in new orders for durable goods to a total of $214.4 billion. April's decline follows up a decrease of 0.3 percent in March and is the fourth month in a row that durable goods have declined. Market expectations had forecasted that durable goods orders would drop by 1.5 percent for the month. New orders for durable goods excluding transportation gained by 2.5 percent in April beating market expectations that predicted a decrease of 0.5 percent. Durable goods are products manufactured in the U.S. and considered to last more than three years. April results for shipments of durable goods increased by 1.2 percent or $2.5 billion after two straight declining months. Unfilled orders increased 1.0 percent($7.6 billion) in the month and durable good inventories increased 0.5 percent($1.7 billion) from March which saw a 1.0 percent gain. March nondefense orders for new goods fell by 1.4 percent while defense orders for goods increased by 4.8 percent.

Tags: durable goods, new orders, us economy, forex market news

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