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April US Factory New Orders Rise More Than Expected, Led by Transportation Orders

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New orders for US factory goods rose by 4.8% in April, above expectations for a 4.6% gain in a survey compiled by Bloomberg as of 7:30 am ET and following a revised 1.8% increase in March.

Excluding a 21.6% surge in transportation orders, new orders would have been up 1.3% after a 1.8% gain in March.

Durable goods new orders were revised upwards to 8% from the advance estimate of a 7.9% gain and follows a 1.3% gain in March.

Nondurable goods new orders increased by 1.4%, slower than a 2.3% increase in the previous month.

Factory shipments increased by 1%, while unfilled orders increased by 1.7%.

Factory inventories increased by 0.3% and, when combined with already-published advance estimates for retail and wholesale inventories, shows business inventories on pace for a 0.5% gain in the month.

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