US durable goods orders rebound in April | 29 May. 56 After a sharp 5.9% drop in March, new orders for long-lasting manufactured goods rose 3.3% to 222.6 billion USD, the Commerce Department reported. The rebound was twice as strong as analysts expected and pointed to continued growth in the manufacturing sector. Senior economist for the Manufacturers Alliance for Productivity and Innovation (MAPI) commented that the durable goods report confirms a pace of industrial recovery that has been steady. Companies are gearing up to add to capacity. However, as domestic demand is picking up pace, sales abroad continue to underperform, pulled down by continued malaise in Europe. Transportation equipment led the advance, increasing 8.1% to 67.6 billion USD.
Posted on: Fri, 14 Jun 2013 02:35:46 +0000
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