Durable goods orders fell sharply in April

• April Durable Goods: -1.3% vs. 0.7% expected and +1.3% prior (revised from 0.5%).
• Excluding transportation, new orders rose 1.0% vs. +0.7% expected and +1.6% prior.
• Excluding defense, new orders were virtually unchanged.
• Shipments of manufactured durable goods in April, up eleven of the last twelve months, increased 0.6% $248.7B.
• Nondefense new orders for capital goods in April rose 3.5% to $80.1B. Shipments increased 4.1% to $78.9B.