Durable goods orders increase 0.8% in April

[WASHINGTON] Orders for long-lasting US manufactured goods unexpectedly rose in April, but a drop in a measure of business capital spending plans could temper expectations for a sharp rebound in economic growth this quarter.

The Commerce Department said yesterday durable goods orders increased 0.8 per cent as demand for defence capital goods surged and orders for fabricated metal products, transportation equipment and electrical equipment, appliances and components rose.

Durable goods range from toasters to aircraft and are meant to last three years or more.