US Durable Goods Orders Rise In April Below Estimate

US durable goods orders declined in April below the market estimate, according to official data released on Wednesday.

New orders for manufactured durable goods rose 0.4% to $265.3 billion last month, the US Commerce Department's Census Bureau said in a report.

The rise, which marks the sixth increase in the last seven months, follows a 0.6% gain in March.

However, the latest figure fell short of the market estimate of a 0.6% increase.

"Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 0.3%," the report said. -