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April durable goods orders fall at faster pace than forecast in US

by ChemOrbis Editorial Team - content@chemorbis.com
  • 26/05/2015 (17:08)
According to a report released by the US Commerce Department, durable goods orders fell by a larger amount than expected in April. Orders for durable goods posted a seasonally adjusted decrease of 0.5% on the month following an upwardly revised gain of 5.1% in March. Economists’ initial estimates called for a decrease of 0.1% in a survey conducted by the Wall Street Journal. On a yearly basis, meanwhile, orders fell 1.3%. However, excluding the transportation sector, durable goods orders rose 0.5% in April.

Lower crude oil prices, a stronger US dollar and weak overseas demand were cited as the main reasons behind the decrease in durable goods orders.

The report also showed that orders for nondefense capital goods excluding aircraft rose 1% while orders for commercial aircraft and parts declined 4% after surging 40.7% in the previous month. Defense aircraft and parts orders fell 12.8% following a 120.4% jump in March.
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