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Unexpected: Factory Orders Drop in April

Unexpected: Factory Orders Drop in April

WASHINGTON, June 4 (UPI) —
U.S. factory orders dropped 0.6 percent in April and have fallen for three of the past four months, the U.S. Census Bureau reported Monday.

After falling 2.1 percent in March — revised from a previous estimate of 1.5 percent — factory orders fell an additional $2.9 billion to $466 billion in April, the bureau said.

Excluding transportation, new orders fell 1.1 percent, as durable goods orders fell by $100 million to $215.2 billion.

Orders for non-durable goods also fell 1.1 percent or by $2.9 billion to $250.8 billion.

After four consecutive months of increases, shipments of manufactured goods fell 0.3 percent, or by $1.5 billion, to $473.2 billion.

Unfilled orders, down 0.1 percent to $985.4 billion, dropped in April following 27 consecutive months of increases. Unfilled transportation orders had the largest decline, off 0.3 percent or $1.6 billion to $566.5 billion.

Inventories of durable goods, up 27 of the past 28 months, rose 0.3 percent to $364.2 billion in April. Inventories of non-durable goods, down two consecutive months, fell 0.5 percent to $243.1 billion.

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