Durable Goods Orders Fall in April

NEW YORK ( TheStreet) -- New orders for durable goods fell more than expected in April, adding to the mounting worries that the global industrial cycle might be slowing down.

Orders for goods that last more than three years dropped 3.6% in April, after rising 4.4% in March. Economists were expecting durable goods orders to fall by 2% in April after rising 4.1% in March, according to consensus estimates from Briefing.com.

Excluding the volatile transportation sector, durable goods orders still dropped by 1.5%, against a projected increase of 0.6%.

Orders for non-defense capital goods excluding aircraft, a key indicator of demand for industrial goods, dropped 2.6% after rising 5.4% in March.

-- Written by Shanthi Bharatwaj in New York

>To contact the writer of this article, click here: Shanthi Bharatwaj.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

More from Rates and Bonds

What's Driving the 10-Year Yield to Historic Levels This Week?

What's Driving the 10-Year Yield to Historic Levels This Week?

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting