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US durable goods orders rise faster than expected in June

by ChemOrbis Editorial Team -
  • 27/07/2015 (17:35)
According to a report released by the US Commerce Department, durable goods orders rose at a faster than expected pace in June. Orders for durable goods increased 3.4% on the month in June following a revised drop of 2.2% in May. Economists’ initial estimates called for an increase of 3.2% in a survey conducted by Bloomberg while a survey conducted by the Wall Street Journal predicted a rise of 2.7%.

The increase showed that US manufacturers may be overcoming problems stemming from a stronger dollar and harsh winter weather. During the January-June period, however, new orders declined 2% compared with the same period of 2014.

The report also showed that orders for non-defense aircraft and parts jumped 66.1% in June. Excluding aircraft, orders for nondefense capital goods rose 0.9% following a decline of 0.4% in May.
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