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NEW: Durable goods orders fall by 1.1 percent

Submitted by rebecca on June 25, 2010 – 5:59 amNo Comment

WASHINGTON (AP) – Orders to U.S. factories for big-ticket
manufactured goods declined in May as demand for commercial
aircraft dropped off. But excluding transportation, orders rose.
The Commerce Department says demand for durable goods fell 1.1
percent last month. It was the first decline in six months,
following April’s strong 3 percent increase.
Without the volatile transportation sector, orders were up 0.9
percent. The increase was driven by a 5.6 percent uptick in orders
for machinery. Non-transportation orders in April fell by 0.8
percent.
More companies are investing in costly machinery as the recovery
gains strength. As manufacturing continues to surge, companies are
growing more confident. They are adding jobs, revving up production
and buying more equipment.

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