April durable goods orders slip 0.5 percent (Reuters) (28-05-2008)

WASHINGTON (Reuters) - The Commerce Department said on Wednesday that new orders for durable goods fell a smaller-than-expected 0.5 percent in April on reduced transportation orders, although a key barometer of business confidence logged a surprisingly sharp gain.

The consensus of analysts polled by Reuters was that durable goods orders would decline by 1.0 percent as the weak U.S. economy has affected construction and motor vehicle industries.

Taking transportation out of the equation, orders rose 2.5 percent, the biggest gain since July, the Commerce Department said. Analysts were expecting a 0.5 percent decrease.

  Source Reuters