Orders for durable goods increased by just 0.3 percent in July providing further evidence that the pace of recovery in the US is slowing. Analysts had predicted an increase of 3 percent.
Ã¢â‚¬Å“This overall loss of momentum is noticeable, measurable and itÃ¢â‚¬â„¢s cause for concern,Ã¢â‚¬Â said Robert Dye, a senior economist at PNC Financial Services Group Inc. in Pittsburgh, whose forecast was the lowest among those surveyed. Ã¢â‚¬Å“Manufacturing is still leading the recovery, but not nearly with as much vigor as earlier.Ã¢â‚¬Â
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