Factory orders fell 13% in April, a slightly larger drop than the 11% decline in the prior month, the Commerce Department said Wednesday. Economists were expecting a 12% fall. Durable goods orders fell 17.7%, a bit worse than last week’s initial reading of a 17.2% decline. Orders for nondurable goods were down 9% in the month. Orders for nondefense capital goods, excluding aircraft, fell a downwardly revised 6.1% in April compared with the prior estimate of a 5.8% drop.
Factory orders fall sharply for second straight month in April
