April Factory Orders Slip 0.4%; Ex-Transportation Unch

New orders for manufactured goods decreased 0.4% in April, after gaining a revised 2.2% in February, first reported as a 2.1% increase, the Commerce Department reported Tuesday.

Economists polled by Thomson Reuters expected a flat reading for April orders.

Excluding transportation, new orders were unchanged, after a flat reading the previous month. Excluding defense, orders were flat after a 1.4% increase in March.

Durable goods orders were 1.0% lower in April after a 5.1% increase in March, while nondurable goods orders were 0.2% higher in April after a 0.4% decrease in March.

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