US durable goods orders up 1.7 percent in August

WASHINGTON (AP) — Orders for long-lasting manufactured goods rose a modest 1.7 percent in August, reflecting a rebound in the volatile aircraft sector. A gauge of business investment was up for a second month, providing hope that a revival in manufacturing is gaining strength.

Last month's advance in orders for durable goods followed a 6.8 percent plunge in July, the Labor Department reported Wednesday. Both months were heavily influenced by swings in orders for commercial aircraft, which surged 44.8 percent in August after having plunged 71.1 percent in July.

A closely watched category that serves as a proxy for business investment posted a 0.9 percent gain in August after a 1.1 percent increase in July. Economists believe that U.S.