News Summary: US durable goods orders up 3.3 pct.

AP News
Posted: May 24, 2013 2:53 PM

ORDERS UP: U.S. orders for manufactured goods expected to last at least three years rose 3.3 percent in April. The gain was driven by a surge in demand for aircraft and more spending by businesses.

BUSINESS INVESTMENT: A measure of business investment plans increased 1.2 percent last month and 0.9 percent in March. Companies ordered more machinery and electronic products last month, typically signs of confidence in the economy.

OUTLOOK: More spending by businesses could ease worries that manufacturing will drag on the economy this year.