In April 2024, new orders for U.S. manufactured durable goods rose by 0.7%, surpassing expectations of a 0.8% decline.

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This third consecutive monthly increase was driven by transport equipment demand and gains in computers, electronics, fabricated metals, machinery, and electrical equipment.

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It marked the third consecutive monthly advance in durable goods orders, primarily propelled by robust demand for transport equipment (1.2% vs 2.5% in March).

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Additionally, demand increased for computers and electronic products (0.6% vs 0.4%), fabricated metal products (0.3% vs -0.3%), machinery (0.4% vs -0.3%), and electrical equipment, appliances, and components (0.9% vs -1.9%).

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Meanwhile, orders for non-defense capital goods excluding aircraft, a closely monitored proxy for business spending plans, rose by 0.3% in April, recovering from a 0.1% fall in March.

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