News Summary: US durable goods orders fall 5.7 pct

Posted at: 04/24/2013 12:36 PM
By The Associated Press

DURABLE GOODS ORDERS FALL: Orders for long-lasting U.S. factory goods fell in March by the most in seven months, dragged lower by a sharp drop in commercial aircraft demand and defense equipment.

SMALL RISE IN BUSINESS INVESTMENT: So-called core capital goods orders, which include industrial machinery and computers, ticked up only 0.2 percent. Economists pay close attention to these orders because they are a good measure of companies’ investment plans.

SLOWER GROWTH: Weaker economies overseas and the impact of across-the-board government spending cuts have made businesses more cautious. That’s reduced demand for manufactured goods.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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