Durable goods orders bounce back in April, jumping 3.3%
WASHINGTON -- Orders for airplanes, appliances, computers and other long-lasting durable goods jumped 3.3% in April after a sharp decline the previous month, a positive sign for the economic recovery.
The increase was the second in three months for an important barometer of business and manufacturing strength. Durable goods are items meant to last at least three years.
Analysts had expected durable goods orders to bounce back from a revised 5.9% drop in March, but the rise reported Friday by the Commerce Department was more than double the 1.5% economists had projected.
April’s increase was sparked by an 8.1% rise in orders for transportation equipment, to $67.6 billion.
Defense aircraft and parts orders were up 53.3% after an 8% decline in March. Commercial aircraft and parts were up 18% in April after dropping 43% the previous month.
Slumping demand for civilian aircraft, a volatile category, was a major factor in the March decline.
Boeing Co. reported 39 new aircraft orders in March after 179 in February. The company’s orders rebounded last month to 51.
Factoring out aircraft and defense, orders for capital goods rose 1.2%. That figure, which also exceeded analyst expectations, is a widely watched gauge of business investment. It was up 0.9% in March.
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