U.S. Durable Goods Orders Tumble 2.1% In April

After reporting a notable rebound in new orders for U.S. durable goods in the previous month, the Commerce Department released a report on Friday showing durable goods orders pulled back in the month of April.

The report said durable goods orders tumbled by 2.1 percent in April after jumping by a downwardly revised 1.7 percent in March.

Economists had expected orders to slump by 2.0 percent compared to the 2.6 percent spike that had been reported for the previous month.

Excluding a steep drop in orders for transportation equipment, durable goods orders were unchanged in April following a revised 0.5 percent drop in March. Economists had expected a 0.2 percent uptick.

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