US durable goods orders rise 3.3% in April from March
24 May 2013 14:24 [Source: ICIS news]
HOUSTON (ICIS)--US orders for durable goods rose by 3.3% in April from March, led by an increase in orders for transportation equipment, the Commerce Department said on Friday.
In its monthly report, the department said that new orders for manufactured durable goods in April increased by $7.2bn (€5.5bn) to $222.6bn.
April’s increase followed a revised 5.9% decrease in March from February.
April’s transportation equipment orders were up $5.1bn, or 8.1%, to $67.6bn. This was led by nondefense aircraft and parts.
Excluding transportation, April’s new orders increased by 1.3%, the department said.
Transportation orders often are separated from the overall durable goods data because big-ticket aircraft purchases frequently are made in multiple-plane batches and in any given month those sales or their lack can disproportionately affect the big picture.
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 and chemicals-based products used in manufacturing processes or as end-product components.
The report also said that inventories of manufactured durable goods increase by 0.4% to $377.9bn in April.
($1 = €0.77)
Additional reporting by Joe Kamalick in Washington
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy BlogBy: Stefan Baumgarten+1 713 525 2653
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