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U.S. factory orders hurt by defense; investment appetite positive
WASHINGTON, July 2 (Reuters) - A fall in demand for military equipment spurred a drop in new orders for U.S. factory goods in May, but signs of a healthy appetite for investment in the private sector pointed to broader strength in the economy. The Commerce Department said on Wednesday new orders for manufactured goods decreased 0.5 percent. That was a steeper drop than the 0.3 percent decline forecasted by analysts.
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