US April Durable goods orders fall 0.5%, ex-transport rise 0.5%

FXStreet (Mumbai) - The data reported by the US commerce department showed today that orders for durable goods in April dropped by 0.5% after an upwardly revised 5.1% gain in March.

Though the headline figure dropped, the orders for capital equipment rose in April for a second straight month. Orders for non-military capital goods excluding aircraft, a proxy for future corporate spending on new equipment, advanced 1% after a 1.5% gain in March.

Shipments for non-defense capital goods excluding aircraft, which is used in calculating gross domestic product, rose 0.8% after increasing 1%. Excluding transportation equipment, orders increased 0.5% after a 0.6% advance a month earlier.