Durable Orders Jump A Lot If You Ignore Revision

This report is fine, but I read others this morning touting the big jump when the real news is that the previous number was much worse than first announced.

May 28 (Bloomberg) -- Orders for U.S. durable goods hovered near the lowest level in 13 years in April as demand for business equipment weakened, indicating that investment will be one of the last areas of the economy to recover.

Orders rose 1.9 percent from the previous month after a revised 2.1 percent drop in March that was more than twice as large as previously estimated, the Commerce Department said today in Washington. A rebound in automobile orders and a jump in defense spending spurred the gain in April.