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Durable Goods Spending Continues To Increase

The Commerce Department reports spending on durable goods in February increased 0.5 percent thanks to increased global market demand and inventory restocking.

A New York Times article quotes an economist stating the manufacturing industry is "enjoying a healthy recovery."

It's the third consecutive month for growth in durable goods orders. January's numbers were 8 percent higher than February, 2009.

According to a Bloomberg report in Business Week, a wide range of manufacturers are reaping revenue rewards from increased expenditures on equipment. The article quotes a chief economist as stating the industry "is in the lead of pulling the economy along."

The article stated factories boosted durable goods inventories by 0.3 percent, the biggest increase since December 2008.

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