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US durable goods orders rose 2.1% in July

Seasonally adjusted new orders for U.S. manufactured durable goods climbed 2.1%, to $250.4 billion in July from $245.96 billion in June, an increase that exceeded market expectations.

The reading reported by the U.S. Census Bureau was far above the Econoday consensus estimate of a rise of 1.2%.

However, shipments of manufactured durable goods decreased 1.1% to $254.0 billion, while unfilled orders rose 0.1%, to $1.162 trillion, following three consecutive monthly falls.

Inventories of manufactured durable goods edged up 0.4%, to $427.3 billion, following a 0.3% increase in June.