4/28: MetroIntelligence Economic Update by P. DUFFY

Consumer sentiment index rebounds slightly from mid-month low

The Univ. of Michigan’s Index of Consumer Sentiment rose slightly (+.08 points) from the middle of April to 71.8, but is still down 19.4 points from March, 29.2 points from February and 26.1 points year-on-year.



March durable goods orders fell 14.4 percent, but core capital goods edged up 0.1 percent

New orders for manufactured durable goods in March decreased 14.4 percent to $213.2 billion, following three consecutive monthly increases.  New orders for “core capital goods,” which exclude defense spending and aircraft, rose 0.1 percent.



Hotel industry shows sharp decline in metrics for March

In March, U.S. hotel occupancy fell nearly 43 percent to 39.4 percent, the average daily rate fell 16.5 percent to $110.66, and daily revenue per available room fell nearly 52 percent to $43.54.