New factory orders for manufactured goods jumped 1.1% in April, the Commerce Department said yesterday.
The increase to $445.234 billion contrasted the 0.1% decrease projected by IFR Markets and came after a revised 1.5% increase to $440.216 billion in March, originally reported as a 1.3% increase.
Excluding transportation, the level of all new manufacturing orders rose 2.6% to about $389.2 billion in April following a 2.6% jump in March to $379.3 billion. The increase compared to a 0.9% increase projected by IFR.
Excluding military orders, new orders grew 1.3% to $434.3 billion following a 1.7% increase to $428.6 billion in March.
New orders for durable goods decreased 0.6% to $214.4 billion in April, while orders for nondurable goods jumped 2.8% to $230.8 billion.
Inventories were virtually flat at $545.7 billion, while the inventory to shipment ratio fell to 1.23 from a revised 1.26 in March.
