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April Durable Goods Unexpectedly Improve, Shining Soft Light on U.S. Economy
Orders for durable goods, excluding transportation, rose 2.5% in April, an unexpected gain that underscores that a weak greenback and strong overseas demand for American-made goods are helping recharge the downtrodden U.S. economy.
Total orders last month shrunk by 0.5% to a seasonally adjusted $214.42 billion, the Commerce Department reported. That was well below some forecasts of a 2.0% drop.
Durable goods – such as cars, appliances, electronics and toys – are manufactured items that are expected to last at least a few years. Together with sales of nondurable goods – more-ephemeral items such as paper and food – and…
29May2008 | Money Morning | Comments Off | Continued
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