Factory orders sink again, stoking fears about the strength of the U.S. economy
The numbers: Factory orders in the U.S. fell sharply in April for the second time in three months, adding to mounting evidence of a broad slowdown in a key segment of the U.S. economy.
Demand was even weaker for durable goods — products such as autos, appliances and machines meant to last at least three years. These orders sank an unrevised 2.1%. The decline in bookings for durable goods was partly offset by a 0.5% increase in orders for nondurable goods such as clothes and grocery items.
The yearly pace of business investment slowed in April to 1.2% from 3.8%, marking the smallest 12-month increase since the final month of Barack Obama’s presidency in January 2017.
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