Economic Recovery, Us Factory Orders | featured news

New orders for U.S. factory goods rebounded in February and firms increased orders for capital goods, suggesting manufacturing held on to some momentum early in the year.

New data indicate the American economy is continuing to recover despite the European slowdown.

The U.S. manufacturing sector grew in August for the first time in over a year and a half, while pending home sales surged to a two-year high in July, adding to mounting evidence the longest economic slowdown since the Great Depression is ending.

A White House spokesman said Wednesday that the United States has avoided falling off an economic cliff, citing as evidence a new report showing factory orders rose in June for the fourth time in five months, an unexpected gain and the latest sign that the ailing manufacturing sector is recovering.