U.S. Durable Goods Orders Rise Excluding Transport |
| Bloomberg - May 28, 2008 |
Orders for U.S. durable goods excluding automobiles and planes unexpectedly rose in April, signaling that demand from abroad may be helping factories ride out the housing-led economic slowdown.
Excluding transportation orders that tend to be volatile, bookings for goods meant to last several years rose 2.5 percent, the most since July, the Commerce Department said today in Washington. Total orders fell a less-than-forecast 0.5 percent.
Treasuries dropped after the report, sending 10-year note yields to their highest level since January, and stock-index futures rallied. Today's figures indicate growth in Europe and emerging markets, along with a slide in the dollar, are helping sustain demand for American made goods even as U.S. consumers rein in spending.
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- Posted: 2008-05-28 08:48:37
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