Durable Goods Orders, New Home Sales Up

biz.yahoo.com

Orders to U.S. factories for big-ticket manufactured goods rose a solid 1.9 percent last month, the best showing since November. Sales of new homes hit an all-time high.

The reports provided further evidence that the economy has recovered from its March slowdown.

Economists said the strength in both reports showed that worries of a serious slowdown from this year’s oil shock were overblown.

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