News Summary: April US factory orders up 1 percent

News Summary: US factory orders up 1 percent in April as business investment rises

Associated Press
News Summary: April US factory orders up 1 percent
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FILE - In this Wednesday, Feb. 13, 2013 file photo, Peeps move through the manufacturing process, at the Just Born factory in Bethlehem, Pa. Orders to U.S. factories rose modestly in April as manufacturers rebounded from a weak March performance, the Commerce Department said Wednesday, June 5, 2013. (AP Photo/Matt Rourke, File)

ORDERS RISE: Orders to U.S. factories rose 1 percent in April as manufacturers rebounded after a 4.7 percent decline in March. The swing reflected a surge in commercial aircraft orders which had fallen sharply in March.

HOPEFUL SIGN: Orders in a category viewed as a proxy for business investment spending posted a moderate 1.2 percent rise following a 1.1 percent gain in March. More spending by businesses could ease fears that manufacturing will be a drag on the economy later this year.

TRENDS: Orders for long-lasting goods ranging from computers to battleships rose 3.5 percent in April following a 5.9 percent decline in March. Orders for nondurable products such as paper, chemicals and food fell 1 percent in April after a 3.5 percent March decline. The decline in nondurable products primarily reflected falling energy prices.

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