Business
Factory Orders Suggests Business Investment Recovery in April
Factory orders for a key gauge of corporate investment increased by 1.3 percent in April, while computer orders increased by 1.6 percent, according to statistics released Monday by the Department of Commerce.
Nondefense capital goods orders increased by 1.4 percent, which was somewhat less than the earlier forecast of 1.4 percent.
Total orders increased by 0.4 percent, which was half of what economists predicted. Durable-goods orders increased 1.1 percent, unchanged from last week's preliminary estimate. Non-durable goods orders fell 0.1 percent.
Transportation equipment orders increased by 3.7 percent. This includes a 32.7 percent rise in defense aircraft orders. Orders for autos and parts rose 0.5 percent. Excluding transportation, orders were down 0.2 percent.
Orders for machinery increased by percent. Construction machinery orders increased by 1.6 percent, providing further proof of the building sector's resilience. Mining, oil, and gas industry machinery orders increased 10.6 percent. Turbine, generator, and other power transmission equipment orders increased by 1.6 percent.
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