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US orders for long-lasting goods rises 2.1% in July

US orders for long-lasting goods rises 2.1% in July

ECONOMIC NEWS

US orders for long-lasting goods rises 2.1% in July


Orders to U.S. factories for large manufactured goods rose for the second straight month, but the strength again came from a big increase in the volatile aircraft category. A category that tracks business investment also rose for the second straight month, though last month’s reading was revised down significantly.

The Commerce Department said Monday that orders for durable goods — or items meant to last at least three years — rose 2.1%. That follows a 1.8% gain in June, which helped to offset significant declines the in May and April.

A category that serves as a proxy for business investment rose 0.4%, but last month’s gain of 1.9% was revised down to 0.9%.

Excluding transportation, orders fell 0.4%, its biggest decline since March.

Commercial aircraft orders, notoriously volatile, rose 47.8%.



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