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U.S. Durable Goods Orders Climb More Than Expected In May

New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Monday.

The report showed durable goods orders climbed by 0.7 percent in May after rising by 0.4 percent in April. Economists had expected orders to inch up by 0.1 percent.

Excluding an advance in orders for transportation equipment, durable goods orders still rose by 0.7 percent in May after edging up by 0.2 percent in April. Ex-transportation orders were expected to rise by 0.3 percent.

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