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Durable Goods Orders Rise, Beat Expectations

The U.S. Department of Commerce reports that new orders for durable goods produced in the United States rose 0.8 percent in June, surprising industry analysts who had predicted a decline of 0.3 to 0.5 percent. The increase follows a revised 0.1 percent increase in May. Durable goods are items expected to last three years or more. The increase comes largely on the strength of defense-related products and export sales; when military orders are factored out, the orders rose only 0.1 percent. Sectors that saw increased demand in June include electronic equipment, heavy machinery, and metals. Sectors with negative numbers include transportation equipment, computers and telecommunications equipment, and civilian aircraft.

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