Latest economic reports show promise
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Manufacturing News, Source : TheManufacturer.com
Published : 28 Aug 2003 15:17
New orders for manufactured durable goods in July increased $1.7 billion or 1.0 percent to $174.0 billion, the Department of Commerce, U.S. Census Bureau reported yesterday.
Shipments of manufactured durable goods in July increased $4.7 billion or 2.6 percent to $181.4 billion. Unfilled orders for manufactured durable goods in July decreased $1.9 billion or 0.4 percent to $485.5 billion. Inventories of manufactured durable goods in July, down twenty-nine of the past thirty months, decreased $2.4 billion or 0.9 percent to $263.9 billion.
According to Bloomberg news, the positive data doesn't stop there. In a survey of 69 economists, the news service reports today that Gross domestic product probably grew from April through June at a 2.9 percent annual pace, faster than the 2.4 percent rate previously reported.
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