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July 2, 2020, 10:10 a.m. EDT

U.S. factory orders rise for first time in three months

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By Greg Robb

Factory orders rose 0.8% in May, the first gain in three months, the Commerce Department said Thursday. Economists surveyed by MarketWatch were expecting a 9.7% gain. Orders fell a revised 13.5% in the prior month and 11% in March as the economy was locked down from the pandemic. In May, durable goods orders rose 15.7%, only slightly down from last week's initial reading of a 15.8% increase. Orders for nondurable goods were up 2% in the month. Orders for nondefense capital goods, excluding aircraft rose 1.6% in May, down from the prior estimate of a 2.3% rise.

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