News Summary: US durable goods orders fall 5.7 pct
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Source: Business News
Originally published: Apr 24, 2013 - 10:47 am
Originally published: Apr 24, 2013 - 10:47 am
(AP) - 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 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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