Largely reflecting a pullback in orders for transportation equipment, the Commerce Department released a report on Tuesday showing a modest decrease in new orders for U.S. manufactured durable goods in the month of April.
The report said durable goods orders dipped by 0.5 percent in April after surging up by a revised 5.1 percent in March.
The drop in orders came in line with economist estimates, while the increase in the previous month was upwardly revised from the originally reported 4.0 percent jump.
Excluding the decrease in orders for transportation equipment, durable goods orders rose by 0.5 percent in April compared to a revised 0.6 percent increase in March.
Economists had expected ex-transportation orders to edge up by 0.3 percent compared to the 0.2 percent drop originally reported for the previous month.
The material has been provided by InstaForex Company – www.instaforex.com