Orders for Durable Goods Reach 19-Mo. High
New orders for durable manufactured goods in April reached the highest level ($193.9 billion) since September 2008 (see top chart above). The 12-month percentage increase in April of 19% followed double-digit increases in January (15%), February (14%) and March (17%), and was the highest yearly growth rate in almost ten years, since June 2000 (20%), see bottom chart. The five consecutive monthly increases starting in December marks the first time October 2007-February 2008 of five straight monthly positive increases in the annual growth rate of new orders for durable manufactured goods.
Add this to the growing list of V-shaped signs of an economic recovery gaining momentum, especially in the U.S. manufacturing sector, which added 44,000 new jobs in April - the largest single monthly gain in factory jobs since August 1998.