Area Development
Orders for durable goods in April decreased by 0.5 percent to $214.4 billion, according to figures from the U.S. Department of Commerce. The decrease was 1.5 percent less than industry analysts had predicted. Excluding the transportation sector, orders rose by 2.5 percent, the biggest gain in nine months. Orders for electrical equipment and appliances rose by 27.8 percent, the largest increase on record, with strong increases for primary metals, machinery, and communications equipment. On the negative side, demand for transportation goods fell by 8 percent, with a 24.4 percent decline in orders for commercial aircraft and a 3.3 percent decline in motor vehicles. Durable goods are manufactured products expected to last three or more years.