New orders for U.S.-manufactured durable goods fell 6.3% in April to $296.3 billion, breaking a four-month streak of gains, the U.S. Census Bureau reported Tuesday.
The $19.9 billion drop followed a 7.6% increase in March. The April decline was primarily driven by transportation equipment orders, which dropped 17.1%, or $20.3 billion, to $98.8 billion after four months of growth.
Excluding transportation, new orders rose slightly by 0.2%. When excluding defense, orders declined 7.5%.
The Census Bureau’s monthly durable goods report tracks factory orders for long-lasting manufactured items ranging from cars to appliances and machinery.
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