24 May 2012 22:45 [Source: ICIS news]
HOUSTON (ICIS)--US orders for manufactured durable goods rose by 0.2% in April from March, the Commerce Department said on Thursday, largely as a result of orders for autos and parts.
In its monthly report, the department said new orders for durable goods were at $215.5bn (€172.4bn), up by $300m.
The department also lowered its estimate for March’s decline to 3.7% from its earlier measure of a 4.2% drop from February.
Durable goods are manufactured products meant to last three years or more and include such items as automobiles, appliances, transportation and manufacturing equipment.
Many durable goods, such as computers and automobiles, are major downstream markets for chemicals, resins and derivatives used in manufacturing processes or as end-product components.
Transportation equipment had the largest increase, $1.3bn or 2.1%, to $62.2bn in April. This was due to motor vehicles and parts, which increased $2.3bn.
($1 = €0.80)
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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