US factory orders increase by 0.7 percent in April
(MENAFN) The latest figures released by the US Commerce Department on Tuesday revealed that factory orders in the country increased by 0.7 percent in April, aligning with market expectations. This uptick in new orders for manufactured goods amounted to a USD4.3 billion climb, reaching a total of USD588.2 billion. Notably, this marked the third consecutive month of growth in factory orders.
March's figures were revised downward from an initial gain of 1.6 percent to a more modest increase of 0.7 percent, bringing the total to USD584 billion for the month. Despite this adjustment, the trend of growth remained intact, indicating sustained momentum in the manufacturing sector.
New orders for durable goods in April saw a notable increase of USD1.8 billion, or 0.6 percent, reaching USD283.9 billion. This category also experienced growth for three consecutive months, with transportation equipment leading the way with a gain of USD1 billion, or 1.1 percent, reaching USD96 billion in new orders.
Additionally, new orders for nondurable goods showed resilience, increasing by USD2.4 billion, or 0.8 percent, to reach USD304.3 billion. This uptick further underscores the overall strength and stability of the manufacturing sector.
The consistent growth in factory orders reflects positive momentum in the US economy, buoyed by robust consumer demand and a recovering industrial landscape. These figures provide further evidence of the ongoing economic recovery and serve as an indicator of the nation's manufacturing health.
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