U.S. durable-goods orders unchanged in July, missing economists’ forecast
The numbers: Orders at U.S. factories for long-lasting goods fell flat in July because of a big drop military contracts, but a key weathervane of business investment rose in a somewhat positive sign the economy.
Big picture: Manufacturers are feeling the brunt of rising interest rates and high inflation as customers scale back. And they also confronting ongoing shortages of supplies and labor that have hindered production for the past year and a half.
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