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Durable goods orders rebound in positive manufacturing sign

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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