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Durable goods orders unexpectedly up in April
Durable goods orders unexpectedly up in April

Orders for long-lasting durable goods surprisingly rose in April, the third straight monthly increase and a sign that factories will be increasing production after a slow winter, the Commerce Department said Tuesday. New orders were up 0.8% last month after an upwardly revised 3.6% gain in March. Analysts had expected durable goods orders to drop 0.8% in April after the strong March performance, which was initially estimated as a 2.6% increase. But fueled by a 2.3% rise in orders for transportation equipment and military aircraft, the important measure of future economic activity posted another gain last month. Excluding transportation, an often-volatile category, orders were up 0.1%...

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