Wednesday, May 25, 2005
Durable Goods Orders, New Home Sales Up
biz.yahoo.com
Orders to U.S. factories for big-ticket manufactured goods rose a solid 1.9 percent last month, the best showing since November. Sales of new homes hit an all-time high.
The reports provided further evidence that the economy has recovered from its March slowdown.
Economists said the strength in both reports showed that worries of a serious slowdown from this year's oil shock were overblown.
Orders to U.S. factories for big-ticket manufactured goods rose a solid 1.9 percent last month, the best showing since November. Sales of new homes hit an all-time high.
The reports provided further evidence that the economy has recovered from its March slowdown.
Economists said the strength in both reports showed that worries of a serious slowdown from this year's oil shock were overblown.
