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US factory orders miss expectations; business spending improving

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New orders for U.S.-made goods increased less than expected in August, though business spending on equipment appeared to be recovering, which ...

WASHINGTON: New orders for US-made goods increased less than expected in August, though business spending on equipment appeared to be recovering, which likely supported the economy in the third quarter.

The Institute for Supply Management reported on Thursday that its measure of national factory activity fell in September as new orders retreated from more than a sixteen-and-a-half-year high.

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