U.S. durable goods orders drop 1.3% in April

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WASHINGTON (AP) — U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11 months, pulled down by plunging orders for transportation equipment. The Commerce Department reported Thursday that orders for factory goods meant to last at least three years fell 1.3% in April after rising 1.3% in March. Transportation orders skidded 6.7%. Excluding transportation, which can be volatile from month to month, durable goods orders were up 1% in April. Factories have been hamstrung by a shortage of supplies as the U.S. economy reopens from the COVID-19 pandemic. 

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