WASHINGTON - U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and an increase in products that signal business investment.
Orders for durable goods, items expected to last at least three years, rose 3.3 percent last month from March, the Commerce Department said Friday. That followed a 5.9 decline in March.
Excluding the volatile transportation category, orders rose 1.3 percent in April. That followed a 1.7 percent decline in March.
The stock market slipped Friday despite the encouraging manufacturing report, which suggests economic growth may hold steady through the spring.
The Standard & Poor's 500 index dropped 0.91 of a point to close at 1,649.60. The Dow Jones industrial average rose 8.60 points to 15,303.10, a gain of nearly 0.1 percent. The Nasdaq composite slipped 0.28 of a point to 3,459.14.