US orders for durable goods dive more than predicted in April

US orders for durable goods dive more than predicted in April

In April, orders for durable goods in the United States went down by about 1.7%, although the dive almost entirely took place due to the slump in contracts for Boeing aircraft. Most enterprises gained more orders and managed to increase their investments the previous month.

Market experts predicted a dive in orders for durable goods by about 1%. These are products designed for a lifetime of three years or so.

Perhaps, the best way to judge orders is to have the adverse impact of cars and aircraft excluded. Orders, with the exception of transport, rallied by up to 0.9%, and marked the third consecutive ascend.

The dive occurred due to the fact that orders for commercial aircraft headed south by nearly 29% the previous month after a 61% ascend in March. Apparently, contracts for expensive passenger aircraft often weave from month to month and can even surpass the size of new orders.

Orders for vehicles that soared by 1.8% in April might have a similar effect.

Orders for durable goods have ascended with the exception of these two categories.

Heavy equipment turned out to be the only exception – its orders went down by 0.8%. Additionally, it was the second consecutive tumble, probably a sign that the White House announcement of steel as well as other duties had inflicted damage.

What’s more – in April, investments in the business rebounded. A closely watched measure, known as orders for fixed assets, tacked on by about 1%, thus compensating a similar dip in March.

For the last 12 months, these orders have rallied by up to 7%, becoming a sign that businesses have ramped up spending after several years of weak investment.

In fact, businesses have a huge number of reasons to invest with or without US President’s recent tax cuts.

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera