Durable goods fall 2.9% in April (by Corbett B. Daly)

WASHINGTON (CBS.MW) -- New orders for goods that last more than three years fell in April at the fastest pace in a year and half, the Commerce Department said Wednesday. New orders for durable goods fell 2.9 percent in the month after two consecutive monthly gains. Orders for durable goods, excluding transportation, fell 2.1 percent in the month, the first drop in five months. Orders for durable goods, excluding defense, fell 2.4 percent in the month, the first decline in three months. Inventories of durable goods rose 0.5 percent in April, the fifth consecutive monthly increase. Shipments fell 0.8 percent in the month, while unfilled orders rose 0.6 percent.