Durable goods orders increased 1.1% month-over-month in April (consensus -1.0%) following an upwardly revised 3.3% increase (from 3.2%) in March. Excluding transportation, durable goods orders declined 0.2% month-over-month in April (consensus -0.1%) following a 0.3% increase in March.
The key takeaway from the report is that nondefense capital goods orders excluding aircraft — a proxy for business spending — increased 1.4% month-over-month.