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M. Continuo

May durable goods orders drop less than expected


    WASHINGTON (Reuters) - New orders for long-lasting manufactured goods fell for the first time in six months in May but the drop was less than expected, a government report showed on Thursday.

    Durable goods orders fell 1.1 percent, the sharpest drop since August 2009, the Commerce Department said. Analysts were expecting a 1.4 percent decline after a 3 percent gain in April.

    (Reporting by Mark Felsenthal; Editing by Padraic Cassidy)