NEWS SUMMARY: US durable goods orders up 0.2 pct.

AP News
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Posted: May 24, 2012 4:05 PM
NEWS SUMMARY: US durable goods orders up 0.2 pct.

ORDERS UP: Orders for durable goods _ items expected to last at least three years rose 0.2 percent in April to a seasonally adjusted $215.5 billion in April. That followed a 3.7 percent drop in March.

BUSINESS INVESTMENT DOWN: A measure of business investment spending fell for a second straight month. Companies ordered fewer computers, electronics and heavy machinery. The declines suggest growth could be off to a slow start in the April-June quarter.

OUTLOOK: Economists noted that others reports suggest factory activity and production grew last month. They expect manufacturing will remain a solid enough to support modest growth in coming months