US durable goods orders drop less than expected in April

By Mucahithan Avcioglu

ISTANBUL (AA) - US new durable goods orders fell 6.3% in April, compared to the previous month, slower than expected, according to data from US Census Bureau released Tuesday.

New orders for manufactured durable goods, which measure the change in the value of new purchase orders placed with manufacturers, decreased by $19.9 billion to $296.3 billion.

The figure reversed a downwardly revised 7.6% rise in March, and came below the market forecast of a 7.6% fall for April.

Transportation equipment, also down following four consecutive monthly rises, drove the decrease in April, falling by $20.3 billion or 17.1% to $98.8 billion.

Excluding transportation, durable goods orders increased 0.2% on a monthly basis.

Excluding defense orders, the new orders decreased 7.5% in April.