U.S. Durable Goods Orders Unexpectedly Jumped in May

Orders for American-made durable goods unexpectedly jumped in May, adding to signs that the economic slump is easing.

The 1.8 percent gain in bookings for items meant to last several years matched the previous month’s increase, the Commerce Department said today in Washington. Economists projected orders would drop 0.9 percent, according to the median of 75 forecasts in a Bloomberg News survey.

The economy is projected to return to growth in the second half of the year, and sustained gains in consumer spending may encourage businesses to boost investment and production after having slashed inventories earlier this year. Still, economists anticipate that rising unemployment and tight credit will temper the recovery.

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- Posted: 2009-06-24 10:02:02

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