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US durable goods orders dropped -1.3% in Apr, first decline in a year

US durable goods orders dropped -1.3% mom to USD 246.2B in April, worse than expectation of 0.8% mom rise. That’s the first contraction since eleven consecutive monthly growth. Excluding transportation, new orders rose 1.0% mom, above expectation of 0.7% mom. Ex-defense orders were virtually unchanged. Transportation equipment dropped -6.7m to USD 68.9B.

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