New orders for durable goods fell in April after four consecutive months of growth, according to a report released by the U.S. Census Bureau just moments ago. Orders fell by $19.9 billion, or 6.3%, to $296.3 billion, compared to a 7.6% increase in March. This indicator bested market expectations of a decline of about 7.6%. Meanwhile, core orders excluding transportation orders rose by about 0.2% in April, compared to a revised 0.4% decline in March (expectations were -0.1%).
In detail, new orders excluding defense fell by about 7.5% after growing by 10.4% in March, while transportation equipment orders fell by $20.3 billion, or 17.1%, to $98.8 billion, after three consecutive months of growth.