Orders for US durable goods drop 1 percent in May

Published June 25, 2014 2:54pm ET



WASHINGTON (AP) — Orders for U.S. durable goods tumbled 1 percent in May as demand for military equipment fell sharply. But excluding defense-related goods, orders actually rose, and orders in a key category that signals business investment also increased.

The gains outside of military goods suggest business spending is picking up, which could give the economy a much-needed boost.

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