WASHINGTON (AP) — Orders for long-lasting factory goods edged up slightly in April. But a measure of tracks business investment spending fell for a second straight month.

Durable goods orders increased 0.2 percent last month after a 3.7 percent decline in March, the Commerce Department said Thursday. Gains in volatile commercial aircraft orders and more demand for autos and parts drove the modest increase.

So-called core capital goods orders, which are considered a proxy for business investment plans, fell 1.9 percent in April after a 2.2 percent decline in March. Demand for computers and electronics products and heavy machinery fell.

Durable goods are items expected to last at least three years. Orders rose in April to $215.5 billion, up 52.5 percent from their recession low hit in the spring of 2009. Orders are still 11.6 percent below their peak in December 2007.

The decline in core capital goods could suggest that second-quarter growth is off to a slow start. Still, orders tend to fluctuate sharply from month to month.

Many economists approached Thursday’s report cautiously. They noted that the findings conflicted with two other reports that suggest factory activity and production grew last month.

The Institute for Supply Management said factory activity grew in April at the fastest pace in 10 months. The group’s closely watched manufacturing index showed strength in new orders, production and hiring.

And the Federal Reserve reported that U.S. factory output rose 0.6 percent in April. Half of that increase reflected a big jump in production of motor vehicles and parts.

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said that the weakness could be the result of lingering effect of the expiration of favorable business investment tax breaks at the end of last year.

“This is disappointing, but given the volatility of the data and the strength of the ISM new orders in manufacturing, not disastrous,” Shepherdson said.

Manufacturing has been a leading source of growth and jobs since the recession ended. Economists believe that trend will continue.

For April, orders for transportation goods rose 2.1 percent, led by a 7.2 percent increase in demand for commercial aircraft. This volatile category had plunged 46.6 percent in March.

Orders for autos and auto parts rose 5.6 percent, reflecting the continued strong demand automakers are seeing.

Excluding transportation, durable goods orders fell 0.6 percent following a 0.8 percent drop in March.

Orders for heavy machinery dropped 2.8 percent, while demand for computers and other electronics products fell 0.6 percent.

WASHINGTON (AP) — The average U.S. rate for the 30-year fixed mortgage fell to a record low for a fourth straight week. Cheap mortgages have helped boost home sales modestly this year.

Mortgage buyer Freddie Mac says the rates on the 30-year loan dipped to 3.78 percent. That’s down from 3.79 percent last week and the lowest since long-term mortgages began in the 1950s.

The 15-year mortgage, a popular option for refinancing, held steady at 3.04, matching the record low hit last week.

Rates on the 30-year loan have been below 4 percent since early December. The low rates are a key reason the housing industry is flashing signs of a recovery five years after the bubble burst.

In April, sales of both previously occupied homes and new homes rose near two-year highs.

WASHINGTON (AP) — Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving.

The National Association of Realtors says home sales rose 3.4 percent last month to a seasonally adjusted annual rate of 4.62 million.

That brings home sales back near the pace in January and February — which was the best winter for sales in five years. Still, sales are well below the nearly 6 million per year that economists equate with healthy markets.

A mild winter encouraged some people to buy homes earlier. That drove up sales in January and February, while making March weaker.

WASHINGTON (AP) — A measure of future U.S. economic activity fell in April after six months of increases. The drop reflected weakness in housing and hiring.

The Conference Board says its index of leading economic indicators declined 0.1 percent in April from March.

The index now stands at 95.5. That’s down slightly from a March reading of 95.6, which had been the highest level since mid-2008. Before the recession began in December 2007, the index routinely topped 100.

Conference Board economist Ken Goldstein says the April setback reflected an economy that is still struggling to gain momentum.

WASHINGTON (AP) — U.S. companies restocked more slowly in March, continuing a trend that has weighed on growth this year.

The Commerce Department said Tuesday that business inventories rose 0.3 percent in March, the smallest increase since November. Business sales rose 0.6 percent in March.

The pace of restocking has diminished this year from the end of last year, contributing less to economic growth in the January-March quarter.

Businesses order more goods when they increase their stockpiles. That supports higher factory production and faster economic growth.

WASHINGTON (AP) — U.S. wholesale prices fell in April, reflecting a big decline in gas and energy costs. But outside that drop, inflation was tame.

The Labor Department says the producer price index, which measures price changes before they reach the consumer, dropped 0.2 percent in April. It was the first decline since December and the biggest drop since October.

Excluding volatile food and energy costs, the so-called core index rose 0.2 percent.

For the 12 months that ended in April, wholesale prices have risen just 1.9 percent, the smallest 12-month change since October 2009.

Modest wholesale inflation reduces pressure on manufacturers and retailers to raise prices. That helps keep consumer prices stable.

Gas prices spiked earlier this year. But they have dropped 5 percent since peaking last month.