ILCB - Core Capital Goods Orders Post A Strong Gain In April

• New orders for durable goods fell in April, decreasing 1.3 percent, following a run of 11 consecutive gains. Total durable goods orders are up 32.2 percent from a year ago.
• New orders for nondefense capital goods excluding aircraft or core capital goods, a proxy for business equipment investment, rose 2.3 percent in April after gaining 1.6 percent in March, putting the level at $75.0 billion - a record high.
• The report on durable goods orders highlights the strength of the business sector. Capital spending reflects improving prospects for growth and rising confidence among business leaders.

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