Industrials Edge Higher After Mixed Economic Data -- Industrials Roundup

FeaturesDow Jones Newswires

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

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.

Continue Reading Below

"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

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