The Commerce Department reported that new orders for durable goods rose 0.1% to $224.9 billion in August. Driving the increase were machinery, fabricated metal products and computers. All told, there will be modest manufacturing growth in the U.S. this year, said Cliff Waldman, senior economist for MAPI. "Unfortunately, the nagging sense that U.S. economic fortunes lack meaningful forward momentum is preventing the aggressive, entrepreneurial capital investment that is needed to generate strong factory sector performance," Waldman said.
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