Data points to underlying factory strength
Posted on June 26th, 2011 by Bailey Malley
WASHINGTON – New orders for U.S. manufactured goods and a gauge of business spending plans rose in May, easing fears of a sharp slowdown in factory activity. Durable goods orders increased 1.9 percent after dropping 2.7 percent in April, the Commerce Department said on Friday, with a proxy of business spending also rebounding strongly. An [...]