US durable goods see slower August growth but recovery continues

Washington (AFP) – US durable goods orders saw dramatically slower growth in August after surging the month prior, the Commerce Department said on Friday, but the data showed an ongoing recovery.August’s 0.4 percent jump in orders to $232.8 billion was below estimates and a reversal from July’s upwardly revised 11.7 percent growth.Nonetheless, the data indicated a fourth consecutive month of growth after durable goods had plunged in March and April as the US economy shut down to stop the spread of Covid-19.The Commerce Department said the gains were led by machinery’s 1.5 percent rise to $31.2…

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