Wall Street Journal (05/26/15) Kate Davidson; Jeffrey Sparshott
Demand for durable goods declined a seasonally adjusted 0.5% in April from March, according to the U.S. Department of Commerce, but underlying data suggest business investment is slowly accelerating. March durable goods orders increased an upwardly revised 5.1%. Economists polled by the Wall Street Journal had forecast that overall orders would decline 0.1%.
Durable goods data is volatile and subject to big revisions, but the larger trend indicates demand may be picking up after several weak months. Furthermore, a key measure of business investment rose for the second consecutive month. Orders for nondefense capital goods excluding aircraft rose 1.0% in April. The March reading was upwardly revised to 1.5%.
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