–April Durables Goods New Orders Revised Down To Flat Vs +0.2% Advance
–April Total Factory Orders Ex. Transportation Down 1.1%
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders fell 0.6% in
April, well below the 0.3% increase expected in an MNI survey, data
released by the Commerce Department Monday morning showed.
Nondurable goods orders plunged 1.1%, while the previously reported
0.2% rise in durable goods orders was revised down to a flat reading.
Total factory orders excluding transportation were -1.1% in April,
reflecting the drop in nondurables orders and an MNI calculation of a
0.9% decline in non-transportation durables orders, a downward revision
from the 0.6% decline in the advance estimate.
The drop in nondurables orders was led by a 4.4% decline in
petroleum and coal products shipments, the second straight sharp
decline. Nondurables shipments are equivalent to orders in this report.
Transportation orders are now reported up 2.2% in the month,
compared with the previously reported 2.1% rise in the advance estimate.
Overall factory shipments fell 0.3% in the month, while nondefense
capital goods shipments fell 0.6% and were down 1.5% excluding the
civilian aircraft component.
Factory inventories were flat in April, keeping the inventory to
shipments ratio at 1.28. Unfilled orders posted a modest 0.1% decline in
the month.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]