<$BlogRSDUrl$>

Wednesday, May 25, 2005


ORDERS FOR DURABLE GOODS REVERSE 3-MONTH DECLINE: NYTIMES 

Orders for factory-made durable goods like aircraft and computer equipment rose 1.9 percent in April after three straight months of declines, the government reported today, suggesting an upturn in business spending and a modest recovery in the manufacturing sector.

The Commerce Department also revised its reading for March to a decline of 1.6 percent, much less severe than the initially reported drop of 2.3 percent.

"After last month's report, there was some concern that the factory sector might have been on the verge of a sharp slowdown," said Andrew Tilton, United States economist at Goldman Sachs. "This is a report that suggests that the ultimate slowdown may not be too severe."

Economists polled by Bloomberg News had expected a recovery of 1.3 percent.

"Not only did you get the rebound that you expected, but we actually were rebounding from a much smaller hole," Mr. Tilton said.

Orders for durable goods, which are made to last at least three years, rose $3.7 billion in April to $200.3 billion. Besides reversing three months of declines, that was the biggest improvement since November, when orders grew 2 percent.
Orders for Durable Goods Reverse 3-Month Decline - New York Times

|




This page is powered by Blogger. Isn't yours?