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Durable Goods Orders in U.S. Dropped 3.6% in April, the Most in Six Months
Orders for U.S. durable goods dropped more than forecast in April, reflecting less demand for aircraft and disruptions in supplies of auto parts stemming from the earthquake in Japan. Bookings for goods meant to last at least three years fell 3.6 percent, the most since October, after a 4.4 percent jump in March, a Commerce Department report showed today in Washington. Economists projected a 2.5 percent drop in April, according to the median forecast in a Bloomberg News survey. A measure of demand for business equipment declined by the most this year. Bookings for Boeing Co. (BA) aircraft slumped last month and ... (full story)