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.
Economic Watch: Durable Good Mixed as New Home Sales, Consumer Confidence Improve
New orders for long-lasting manufactured durable goods jumped more than expected in March, but analysts pointed to some concerns deeper in the Commerce Department report. Separate reports showed improvements in new homes sales as well as in consumer confidence.