New orders for U.S.-made goods fell in April and shipments dropped by the most i...
WASHINGTON - New orders for U.S.-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy.
Economists polled by Reuters had forecast factory orders would fall -0.9% in April. Factory orders rose 1.6% compared to April 2018. Manufacturing, which accounts for about 12% of the economy, is being squeezed by businesses placing fewer orders while working off stockpiles of unsold goods in warehouses.
The data joined moderate consumer spending as well as weak home sales and construction outlays in April in suggesting that economic growth was slowing sharply after a temporary boost from trade inventories and defense spending in the first quarter. U.S. stock indexes were trading higher after comments by Fed officials, including Chairman Jerome Powell, boosted hopes of a rate cut. Prices of U.S. Treasuries were lower while the dollar edged up against a basket of currencies. Orders for computers and electronic products fell 0.5%, while those for primary metals dropped 1.1%. Machinery orders rose 0.3% after dropping 2.0% in March. Orders for electrical equipment, appliances and components increased 0.9%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Papua New Guinea leader a wildcard in Pacific power playWhen Papua New Guinea's lawmakers started to shift their weight in their pa...
Read more »
Hillary Clinton Initially Cheered When Trump Fired Comey, New Book ReportsPhoto Illustration by Kelly Caminero/The Daily Beast/GettyHillary Clinton disagrees with Donald Trump over nearly everything except, at least initially, his decision to fire FBI Director James Comey.That’s according to an excerpt from a new book by Ryan Grim, the Washington bureau chief at The Intercept
Read more »
Trade deficit widens in April as exports and imports dropThe U.S. trade deficit in goods widened slightly in April, rising to a seasonally adjusted $72.1 billion from $71.9 billion, the Commerce Department said...
Read more »
U.S. pending home sales fall unexpectedly in AprilContracts to buy previously owned homes unexpectedly fell in April, the National...
Read more »
US construction spending was flat in April as housing fellSpending on U.S. construction projects was unchanged in April as another decline in home construction was offset by a big gain in government spending on projects like highways and hospitals.
Read more »
Trump blasted for tweet supporting LGBT Pride Month while restricting rights for transgender AmericansThe president's ban on transgender personnel from entering the military was implemented in April.
Read more »
Businessman named in Mueller inquiry faces child porn chargeGeorge Nader, who worked to advance Saudi Arabia's agenda to the Trump administration and who later provided grand jury testimony to special counsel Mueller, has been arrested on charges of transporting a dozen images of child pornography and bestiality.
Read more »
Deadline nears for Netanyahu to form governmentIsrael faces the increasing likelihood of a new vote just months after an April election, with PM Benjamin Netanyahu's coalition talks in a deadlock hours ahead of a midnight deadline.
Read more »