U.S. factory orders down in April

Factory orders in the United States declined by 1.8 percent in April, the largest drop since a 2.7 percent fall in January, the Commerce Department reported on Friday.

The report showed that demand for manufactured goods dropped by 7.4 billion dollars to 397.98 billion dollars in April.

U.S. factory orders for durable goods, items expected to last at least three years, declined by a sharp 4.4 percent in April, the biggest drop since January. Total orders for transportation products dropped by 11.7 percent as the weakness in airplanes was offset somewhat by a 1.7 percent increase in demand for motor vehicles and parts.

Orders for nondurable goods increased by 1.2 percent in April following a 1.8 percent gain in March.

Source: Xinhua