Durable Goods Orders Rise 3.3 Percent
WASHINGTON (AP) -- U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for military and civilian aircraft and an increase in business investment.
The Commerce Department says durable goods orders rose 3.3 percent last month after a 5.9 decline in March.
And a measure of business investment plans increased 1.2 percent after a revised 0.9 percent gain in March. Business ordered more machinery, computers and electronics last month.
More spending by businesses could ease fears that companies are worried about slower global growth and deep cuts in U.S. federal spending.
Durable goods are items expected to last at least three years.