U.S. Durable Goods Orders Unexpectedly Pull Back Sharply In April

Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Thursday showing an unexpected decrease in new orders for U.S. manufactured durable goods in the month of April. The report showed durable goods orders tumbled by 1.3 percent in April after jumping by an upwardly revised 1.3 percent in March.

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