US durable goods orders up 0.8 percent in April
WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods advanced for a third month in April, but much of the strength came from a big surge in demand for military aircraft. Orders in a category that signals business investment plans fell by the largest amount in three months.
The Commerce Department says orders for durable manufactured goods rose 0.8 percent after a 3.6 percent gain in March and a 2.6 percent rise in February. The April strength came from a big jump in demand for defense goods including airplanes. Excluding defense, orders would have fallen 0.8 percent in April.
Orders for core capital goods, a category viewed as a good proxy for business investment plans, fell 1.2 percent in April. It was the weakest showing since a 1.9 percent January drop.