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Reports: Business picking up

Friday, July 25, 2003 | 9:46 a.m.

WASHINGTON -- America's manufacturers saw demand for big-ticket products rise by the largest amount since the beginning of the year and new-home sales climbed to the highest level on record, encouraging signs that the economy may be seeing better days ahead.

The Commerce Department reported today that new orders for "durable" goods -- costly manufactured products expected to last at least three years -- increased by a solid 2.1 percent in June from May. That represented the biggest advance since January and marked a stronger performance than the 1.2 percent rise that economists were forecasting.

The department also said sales of new, single-family homes clocked in at a seasonally adjusted annual rate of 1.16 million units in June, a 4.7 percent increase over May's level.

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