New orders for manufactured durable goods in April, down following four consecutive monthly increases, decreased $1.8 billion or 0.8% to $231.0 billion, down from the previously published 0.7% decrease. This followed a 2.4% March increase. Transportation equipment, down following two consecutive monthly increases, led the decrease, $1.1 billion or 1.4% to $78.4 billion. Overall, factory orders were up 4.4% from a year ago.
“Manufacturing, which accounts for about 12% of the U.S. economy, is being supported by a recovery in the energy sector that has led to demand for oil and gas drilling equipment,” Reuters reports.