Orders for durable goods climb again

06/25/2013 | Wall Street Journal, The

Durable goods orders increased 3.6% in May from April, matching that month's gain and topping expectations. The volatile aircraft sector accounted for much of the gain, but orders minus transportation were still up 0.7%. "The improving tone ... signals increased confidence among the business community about the sustainability of the economic recovery -- which could itself become self-fulfilling," TD Securities economist Millan Mulraine wrote in a client note.

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