Widget Image
Follow PPD Social Media
Follow Us:
People's Pundit Locals Community
Friday, October 7, 2022
HomeNewsEconomyDurable Goods Orders Rise Slightly More Than Expected, But Weakness Persists

Durable Goods Orders Rise Slightly More Than Expected, But Weakness Persists

durable-goods-reuters
durable-goods-reuters

American workers at a manufacturing plant for long-lasting durable goods. (PHOTO: REUTERS)

The Commerce Department said durable goods orders, or demand for long-lasting U.S. manufactured goods, rose 3.4% in April fueled largely by transportation. Still, continued weakness in business spending plans clearly indicate the manufacturing crisis is far from over.

Economists polled by Reuters had forecast durable goods orders and core capital goods orders rising 0.5% and 0.4% last month, respectively. However, non-defense capital goods orders excluding aircraft–which is a closely watched gauge for business spending plans–fell 0.8% after an upwardly revised 0.1% decline during the prior month. These so-called core capital goods orders have now declined for three consecutive months.

Core capital goods were previously reported to have fallen by 0.8% in March. Overall, durable goods orders in March were revised to show 1.9% gain, up from a previously reported 1.3% rise.

The manufacturing sector, which still accounts for 12% of the U.S. economy, is basically on life support and has become a top issue in the 2016 presidential election. The lingering effects of the dollar’s relative strength and weak overseas demand is helping to highlight massive trade imbalances and poorly negotiated trade deals.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial