US core capital goods orders tumble in April
New orders for key U.S.-manufactured capital goods fell in April, suggesting business spending on equipment weakened at the start of the second quarter.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, tumbled 1.3% last month after an upwardly revised 0.3% gain in March, the Commerce Department's Census Bureau said on Tuesday.
Economists polled by Reuters had forecast these so-called core capital goods orders dipping 0.1% after a previously reported 0.2% drop in March.
(Reporting by Lucia Mutikani Editing by Ros Russell)
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