7 am: 53°FSunny

9 am: 61°FSunny

11 am: 67°FSunny

1 pm: 70°FSunny

More Weather

Print | E-mail to a friend FEATURED

Durable goods orders up 0.8 percent in June

July 25, 2008 @ 09:32 AM

The Associated Press

Herald-Dispatch.com

WASHINGTON (AP) — Government data show that orders to factories for big-ticket manufactured goods rose at the fastest pace in four months in June, a much stronger showing than had been expected.

The Commerce Department reported Friday that orders for durable goods increased 0.8 percent last month, far better than the 0.4 percent decline that economists had been expecting.

It’s the best showing since a 1.1 percent rise in February and reflects strength in demand for heavy machinery, primary metals such as steel and even a slight rebound in the beleaguered auto industry.