New orders for U.S. factory goods jumped in July and automobile sales in August were unexpectedly strong, offering further signs of strength in the manufacturing sector.
The Commerce Department said on Wednesday new orders for manufactured goods increased a record 10.5 percent on robust demand for transportation equipment. June’s orders were revised to show a 1.5 percent increase instead of the previously reported 1.1 percent rise.
Orders excluding the volatile transportation category slipped 0.8 percent in July. But that followed a 1.4 percent increase the prior month, leaving the overall trend positive for manufacturing activity.
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