Industrials Edge Higher After Mixed Economic Data -- Industrials Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies rose slightly after mixed economic data.

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Orders for durable goods--products designed to last at least three years, such as factory equipment and computers--fell 0.7% from the prior month to a seasonally adjusted $231.17 billion in April, the U.S. Commerce Department said.

"It's the second month of slack corporate spending," said Quincy Krosby, chief market strategist at Prudential Financial. Capital expenditure, which makes up a large part of durable-goods orders, was "something that has been lagging; you saw a little bit of a pickup and now it's flattened out."

Gross domestic product, a broad measure of the goods and services produced in the U.S. economy, was revised to show a slightly higher growth rate of 1.2% in the first quarter, the Commerce Department also reported.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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May 26, 2017 18:22 ET (22:22 GMT)