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U.S. Factory Orders Rise 1.7 Percent

08/05/2008
New orders for U.S.-produced factory goods rose 1.7 percent in June, according to figures from the U.S. Commerce Department. The increase was twice the average 0.7 to 0.9 percent increase forecast by industry analysts for the month. Sectors that reported increased activity include petroleum, up 5.6 percent; primary metals, up 5.2 percent; electrical equipment, up 4.6 percent; chemicals, up 2.6 percent; and machinery, up 2.6 percent. Sectors with negative numbers include transportation equipment, down 2.7 percent; and computers, down 0.6 percent.

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