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US durable goods orders rise in July

by ChemOrbis Editorial Team -
  • 26/08/2015 (16:58)
According to a report released by the US Commerce Department, durable goods orders rose for the second straight month in July suggesting improving optimism among businesses. Orders for durable goods increased 2% on the month in July following a revised increase of 4.1% in June. Economists’ initial estimates called for an increase of 0.1% in a survey conducted by the Wall Street Journal.

The increase was partly attributed to increased investment in new machinery, electronics and other goods. The report also showed that orders for non-defense capital goods excluding aircraft rose for the second straight month, posting an increase of 2.2% in July, which was the largest increase since June 2014. Meanwhile, transportation orders posted an increase of 4.7% month over month in July.
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