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U.S. Factory Orders Rose in June

Orders for goods manufactured in U.S. factories rose 0.4 percent in June, according to the U.S. Department of Commerce. It was the fourth time in five months that orders have increased, and a better number than the average industry prediction of a 1.0 percent drop. Commerce updated its numbers for durable goods -- products intended to last three or more years, including aircraft, automobiles, and appliances -- to a 2.2 percent decline, an improvement over its previous estimate of a 2.5 drop. Nondurable goods, including chemicals and textiles, rose 2.7 percent, the largest increase since June 2008. Commerce will release the advance report for July durable goods on August 26 and the full report for July, including nondurable goods, on September 2.

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