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Orders for U.S. manufactured capital goods increase

Staff Writer |
New orders for U.S. manufactured capital goods rose for a second straight month in July as demand for machinery and a range of other products picked up.

The Commerce Department said non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 1.6 percent last month, the largest gain since January.

These so-called core capital goods orders advanced 0.5 percent in June. The rise in July marked the first back-to-back gain since January 2015.

There were hefty increases in orders for machinery, primary metals, fabricated metal products, computers and electronic products, as well as electrical equipment, appliances and components.

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