‘Big Ticket’ Orders Rebound Strongly to 3.8% in August
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WASHINGTON — Orders for “big ticket” durable goods, boosted by robust automobile sales, rebounded a strong 3.8% in August for their steepest advance this year, the government said today.
The Commerce Department said demand for durable goods, items expected to last more than three years, totaled a seasonally adjusted $126.7 billion, their biggest increase since a 7.4% advance last December.
The August advance came after a bigger decline than previously thought in July. July orders fell 2.5% rather than the 1.9% originally reported. Orders had risen 1.3% in June.
Durable goods orders, a bellwether of the economy’s performance, have bounced up and down throughout the year.
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