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Durable Goods Orders See Biggest Rise in 16 Months
Durable goods orders rose 1.9% April, the largest gain in more than a year, the Commerce Department said Thursday.
The biggest increase since December 2007 followed a revised 2.1% decline March that was more than twice as big a drop as originally reported.
Economists had predicted a 0.5% gain, Bloomberg reported.
Excluding transportation orders, bookings for goods meant to last several years rose 0.8%, more than the 0.3% drop forecast by economists, Bloomberg said.
Transportation orders rose 5.4%, led by automakers.
Durable goods include large items such as refrigerators and air conditioners. Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.
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