Durable goods slump in April
The Commerce Department reports durable goods orders fell 2.1% in April, the latest indication of a slowdown in U.S. manufacturing. Durable goods include big-ticket manufactured products like airplanes, cars and household appliances.
April’s weakness was widespread — from autos to metals and business machinery. Commercial aircraft orders declined steeply, driven by the worldwide grounding of Boeing’s 737 Max jet after two crashes.
Boeing has a backlog of more than 4,000 orders, but as long as the planes aren’t flying, airlines aren’t placing new orders. A number of other factors are weighing on U.S. manufacturers, including a slowdown in global growth and trade tensions with China. Manufacturing employment, meanwhile, has been stagnant since the beginning of 2019.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
