Durable Goods Orders Strong in April

Washington, DC, May 26, 2010--Durable goods orders increased a strong 2.9% in April, marking the fourth increase in the past five months, the Commerce Department reported Wednesday.

Orders were boosted by robust demand for civilian aircraft. But excluding the volatile transportation sector, April's orders were down 1.0%, the first drop in three months.

Economists had been looking for a 2.5% gain in durable-goods orders overall for April.

April's data showed orders for core capital equipment goods -- the best monthly gauge of business investment -- fell 2.4%, a reversal after a 6.5% gain in March. Read full report.

Meanwhile, April's shipments of durable goods rose 1.4% following a 2.1% gain in March.