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rdf:type	schema:NewsArticle
schema:articleBody	Orders of big-ticket US manufactured goods fell in April for the first time after 11 months of increases, dropping 1.3 percent, according to government data released Thursday. The $3.2 billion decline, which defied expectations for another increase, was driven by a 6.7 percent drop in transportation equipment, the Commerce Department reported. The drop marks a disappointing start to the second quarter after the US economy grew 6.4 percent in the first three months of the year as the recovery from the Covid-19 pandemic picked up speed, the Commerce Department confirmed in a separate report. That result was unchanged from the initial estimate. "Despite disappointing economic data in April, we still foresee the US economy's first quarter bloom turning into a summer boom," said Gregory Daco of Oxford Economics, who predicts US growth this year of 7.7 percent, the strongest since 1951. "While the economic environment is ripe for naïve and misguided narratives, we should remember the economic recovery from the pandemic-induced shutdown will be bumpy," he said. Excluding the often volatile transportation sector, new orders for durable goods increased 1 percent in April, according to the data. The transportation component was dragged down by falling orders for motor vehicle and parts as well for military aircraft, which were offset by the 17.4 percent jump in civilian aircraft and parts. Auto manufacturing has been held back this yearby a global shortage of semiconductors, and Ian Shepherdson of Pantheon Macroeconomics said "it's a fair bet that chip shortages are responsible for much of weakness in the vehicle sector." hs/dw
schema:headline	US orders of big-ticket goods fall 1.3% in April: govt
schema:mentions	Car University of Oxford Pandemic Coronavirus disease 2019 Yearby Dacians The Drop (film) Ian Shepherdson Pantheon Macroeconomics Data warehouse United States Department of Commerce
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	68 (xsd:integer)

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