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Orders for durable goods fall to 5-month low

Orders for long-lasting goods such as planes and appliances fell in April for the first time in five months, suggesting that a resurgent U.S. manufacturing industry has cooled off a bit. Durable-goods orders dropped 0.7% last month amid weakness in most key segments of heavy industry. The decline follows four straight increases, including a revised 2.3% bump in March that was originally put at 1.7%. Investment has picked up late last year after a prolonged slump, but the momentum might be flagging.Although the economy is growing steadily, grand plans by the Trump administration to boost business face a long slog in Washington, dampening the initial enthusiasm of investors and executives.

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