Economy
May 28, 2020
Durable Goods Orders Plummet for Second Month
Written by Sandy Williams
Covid-19 restrictions kept consumers and businesses from buying big ticket items last month, causing manufactured durable goods orders to plummet 17.2 percent in April. The new data from the Commerce Department follows a 16.6 percent decline in orders during March.
Transportation orders, always a volatile data point, plunged 47.3 percent in April. The auto industry felt more pain in April, with orders falling 52.8 percent for vehicles and auto parts. Excluding transportation, new orders were down 7.4 percent
