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| More signs of US economic growth | More signs of US economic growth |
| (30 minutes later) | |
| US durable goods orders and new home sales both soared last month, the latest positive indications of the state of the world's largest economy. | |
| Orders for goods expected to last more than three years increased 4.9% in July, beating analyst expectations of a 3% gain, said the Commerce Department. | Orders for goods expected to last more than three years increased 4.9% in July, beating analyst expectations of a 3% gain, said the Commerce Department. |
| At the same time, the annual rate of sales of new US homes rose 9.6% last month, also ahead of market targets. | At the same time, the annual rate of sales of new US homes rose 9.6% last month, also ahead of market targets. |
| This was the biggest rise in sales of new houses since September last year. | This was the biggest rise in sales of new houses since September last year. |
| Boeing boost | Boeing boost |
| The increase in durable goods orders was led by the commercial aviation sector, which pushed transportation equipment orders up 18%. | The increase in durable goods orders was led by the commercial aviation sector, which pushed transportation equipment orders up 18%. |
| US home sales have seen their biggest rise in 10 months | US home sales have seen their biggest rise in 10 months |
| The increase in demand for civilian aircraft was thanks primarily to Boeing, which in July saw its largest increase in monthly orders since August last year. | The increase in demand for civilian aircraft was thanks primarily to Boeing, which in July saw its largest increase in monthly orders since August last year. |
| Transportation orders were further lifted by increased demand for US built cars thanks to the government's "cash for clunkers" scrappage scheme, under which consumers are given money to trade in their old vehicles. | Transportation orders were further lifted by increased demand for US built cars thanks to the government's "cash for clunkers" scrappage scheme, under which consumers are given money to trade in their old vehicles. |
| New orders excluding transportation items rose 0.8%, which was the third rise in the past four months, and followed a revised 1.3% fall in June. | New orders excluding transportation items rose 0.8%, which was the third rise in the past four months, and followed a revised 1.3% fall in June. |
| Sales of new US homes rose to a seasonally adjusted annual rate of 433,000 in July, up from 395,000 in June, said the Commerce Department. | Sales of new US homes rose to a seasonally adjusted annual rate of 433,000 in July, up from 395,000 in June, said the Commerce Department. |
| Although this was a 9.6% rise from the month before, sales were still 13% lower than July 2008. | Although this was a 9.6% rise from the month before, sales were still 13% lower than July 2008. |
| The latest upbeat official figures come a day after the closely-watched Conference Board Consumer Confidence Index rose by more than expected this month, while a separate study said the rate of decline in US house prices slowed in July. | The latest upbeat official figures come a day after the closely-watched Conference Board Consumer Confidence Index rose by more than expected this month, while a separate study said the rate of decline in US house prices slowed in July. |