The May Advance Report on April Durable Goods was released this morning by the Census Bureau. Here is the Bureau's summary on new orders:
New orders for manufactured durable goods in April increased $7.2 billion or 3.3 percent to $222.6 billion, the U.S. Census Bureau announced today. This increase, up two of the last three months, followed a 5.9 percent March decrease. Excluding transportation, new orders increased 1.3 percent. Excluding defense, new orders increased 2.1 percent.
Transportation equipment, also up two of the last three months, led the increase, $5.1 billion or 8.1 percent to $67.6 billion. This was led by non-defense aircraft and parts, which increased $1.9 billion. Download full PDF
The latest new orders number at 3.3 percent was above the Briefing.com consensus of 1.6 percent. Year-over-year new orders are up 2.4 percent. This is a welcome improvement over the previous month's -5.9 percent MoM and -0.8 percent YoY.
