U.S. Durable Goods Orders Unexpectedly Increase In April

(RTTNews) - New orders for U.S. manufactured durable goods unexpectedly increased in the month of April, according to a report released by the Commerce Department on Friday, although the growth came following a significantly downwardly revised jump in March.

The report said durable goods orders climbed by 0.7 percent in April following a downwardly revised 0.8 percent advance in March.

Economist had expected durable goods orders to decrease by 0.8 percent compared to the 2.6 percent surge originally reported for the previous month.

Excluding orders for transportation equipment, durable goods orders rose by 0.4 percent in April after coming in unchanged in March. Ex-transportation orders were expected to inch up by 0.1 percent.

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