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November 14, 2009

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Business trends mixed

Thursday, Sept. 4, 2003 | 11:04 a.m.

WASHINGTON -- The productivity of U.S. companies in the second quarter posted the biggest gain in a year as businesses produced more with fewer workers. And new claims for unemployment benefits climbed last week to the highest level since the middle of July.

The pair of reports released today by the Labor Department underscored some of the strains facing U.S. workers even as the economy shows signs of gaining momentum.

In other economic news, many retailers reported robust sales in August as parents opened their wallets for back-to-school merchandise. Discounters and low-priced stores fared the best, while it was a mixed bag for department and mall-based apparel stores.

And, the Commerce Department said U.S. manufacturers saw demand for their products rise by a sharp 1.6 percent in July -- twice the 0.8 percent gain economists were forecasting.

The strength in July's factory orders was broadbased with "durable" big-ticket goods, such as cars and machinery, and "nondurables," such as chemicals, posting gains. In June, orders placed with factories rose 1.9 percent.

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