Durable Goods Orders Rise In July
08.26.09 |
(Washington, DC) -- New orders for long-lasting U.S. manufactured goods staged a rebound in July. Figures from the Commerce Department indicate orders increased four-point-nine percent for the month, indicating a modest economic recovery may be on the horizon.
The July hike was more than analysts had forecast and was the largest advance since July 2007. The forecast was for orders to rise three percent for the month. However, compared to the same period last year, new orders were still down nearly 26 percent.
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