Economics
U.S. Durable Goods Orders Fall Sharply for Second Straight Month
An employee carries a newly manufactured plastic kayak on the production floor at a factory in Sparta, Tennessee.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
U.S. orders for durable goods sank sharply for a second month in April as the coronavirus pandemic wreaked havoc on the manufacturing industry.
Bookings for goods meant to last at least three years decreased 17.2%, the most since August 2014, after a revised 16.6% decline in March, Commerce Department data showed Thursday. The median projection in a Bloomberg survey of economists called for a 19% decrease.