U.S. durable goods orders data suggest manufacturing stabilizing

June 23, 2015 1:15 PM

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U.S. durable goods orders data suggest manufacturing stabilizing

WASHINGTON A gauge of U.S. business investment spending plans rose in May, offering a tentative sign of stabilization in the manufacturing sector after activity started weakening in the late summer of 2014.

But the lingering effects of lower oil prices and a strong dollar will continue to constrain factory activity for a while, economists say. Manufacturing is lagging other economic data, including retail sales and housing, which have rebounded after hitting a soft patch at the start of the year.

Also read: U.S. motor travel up 1.5 percent in April from year ago: DOT

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