Industrial Production
Durable goods orders rebound in positive manufacturing sign
Orders for jetliners, machinery and other long-lasting durable goods rebounded last month in a positive sign for the important manufacturing sector, the Commerce Department said Friday.
New orders rose 0.7% in June after a sharp 1% decline the previous month.
Economists had expected a smaller rise of 0.5%.
The June increase was the fourth in five months and a signal of stronger overall economic growth this year after a weather-fueled contraction in the first quarter.
Also, Friday's report showed a big jump in a key category viewed as a barometer for business investment plans.
Orders for non-defense capital goods, excluding often-volatile aircraft figures,...
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