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Durable goods statistics improve in US
Zambia News.Net
Wednesday 27th August, 2008
New orders for long-lasting US manufactured goods rose by a surprise 1.4% in July, led by a big increase in civilian aircraft sales.
The latest monthly durable goods order figure from the Commerce Department came as it also revised June's figure up to 1.3% from 0.8%.
Even when July's 3.1% rise in transportation orders is pulled out, demand for other durables rose 0.7%.
The data shows that some industries are proving resilient to economic slowdown.
Analysts had been expecting a 0.5% drop in durables orders in July excluding transportation.
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