Economic Watch: Business Investment, Consumer Sentiment Strong as Home Sales Slip
Orders for long-lasting durable goods fell in April, but a closely watched proxy of business investment moved higher. And although sales of existing homes declined, consumer sentiment remains strong. The Commerce Department reported on Friday new orders for durable goods fell 1.7% in April from the month before, as demand for new transportation equipment, mainly airplanes, tumbled 6.1%. This drop in new orders is slightly more than analysts were expecting.
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