Durable-goods orders slump 2.1% in April and business investment almost dries up

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U.S. durable-goods orders drop 2.1% in April

The numbers: Orders for durable or long-lasting goods fell sharply in April, mostly because of falling demand for Boeing jets and new cars and trucks. Business investment also continued to weaken, reflecting worries about the China trade fight and a slower U.S. economy.

What happened: The big drop in orders last month was mostly tied to a dropoff in bookings for Boeing jetliners. The U.S. manufacturer took in just four orders in April following the worldwide suspension of flights for its 737 MAX planes after a pair of deadly crashes. The yearly pace of business investment slowed in April to 1.3% from 3.8%, marking the smallest 12-month increase since the final month of Barack Obama’s presidency in January 2017.The originally reported 2.6% increase in durable-goods orders in March was slashed to 1.7%.

 

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