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Cars, Planes Push Up Durable Goods

Orders for long-lasting goods posted the strongest gain of the year in July due to demand for cars and airplanes, though weakness continued outside the transportation sector.

 

Durable goods orders ex-transportation fall in June

New orders for a range of long-lasting manufactured goods fell in June and a gauge of planned business spending plans dropped, pointing to a slowdown in factory activity. The Commerce Department said on Thursday durable goods orders excluding transportation dropped 1.1 percent, the biggest decline since January, after rising 0.8 percent in May. Economists had forecast this category being flat last month.

 

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