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Durable goods orders rebound in July

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Durable goods orders rebound in July

4.4% increase follows revised 4.2% decrease in June.

New orders for manufactured durable goods in July increased 4.4%, the U.S. Census Bureau announced today. The increase followed a revised 4.2% decline in June.

Non-defense capital goods orders excluding aircraft - so-call “core capital goods orders” - increased 1.6% during the month, following an upwardly-revised increase of 0.5% in June.

Analysts had estimated an increase in durable goods of 3.3%. 

The increase in manufactured durable goods presents a welcome sign that the US economy may be coming out of recent doldrums.  The increase in core capital goods order is especially welcome, as it reflect an increase in business spending, which has steadily decline in recent months reflecting overall concerns about both the US and global economies.

 

 

 

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