Dollar Unchanged After Durable Goods Orders
May 28, 2008
April durable goods saw a surprise increase in non-transportation orders, marking the first increase in 9 months, suggesting demand from abroad may be helping factories ride out the economic slowdown. While overall U.S. durable goods order fell by 0.5% m/m, bookings excluding transportation orders increased 2.5% m/m. The demand for electrical equipment, appliances, machinery and metals contributed to the increase in non-transportation orders. Despite the positive increase in non-transportation orders the U.S. dollar remained unchanged.