Durable Goods Orders Up for US Manufacturers

27 May 2002

America’s factories saw a seasonally adjusted 1.1% rise in orders for durable goods (products designed to last three or more years) in April, according to new figures from the Commerce Department.

The rise, which follows a 0.2% climb in March, reflects a sharp increase in demand for machinery and electrical equipment. Excluding military hardware, orders were up 3.4% last month.

However, the recovery has yet to feed into the employment market, with figures from the Labor Department showing that continuing jobless claims rose to a 19-year high of 3.87 million earlier this month.

Data sourced from: Financial Times; additional content by WARC staff