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Orders To U.S. Factories Increase For First Time In Three Months
Orders placed with U.S. factories rose in May for the first time in three months, easing concern that manufacturing is faltering. The 0.7 percent increase in bookings followed a revised 0.7 percent drop in the prior month, the Commerce Department said today in Washington. The median forecast of economists in a Bloomberg News survey called for a rise to 0.1 percent. Europe’s debt crisis and a slowdown in Asian markets including China is restraining exports, weighing on the outlook for manufacturers like Joy Global Inc. (JOY) and DuPont Co. (CAT) Business investment, a mainstay of growth, will provide less of a boost ... (full story)
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