Factory Orders Surge in July

Washington, DC, Aug. 31, 2012 -- New orders for manufactured goods posted the biggest increase since July 2011 and rose for the second time in three months.

The Commerce Department said new factory orders rose 2.8% during July.

Economists had forecast orders rising 1.9% during the month.

Excluding transportation, new orders rose 0.7% during the month.

                                                                                                                                                                                                           
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