The Commerce Department reported on Thursday that orders to factories for durable goods fell for the second consecutive month in May. The Labor Department also reported that the number of people filing initial claims for unemployment benefits increased last week. The figures were disappointing to economists who had predicted stronger economic growth this quarter. However, the president of the National Association of Manufacturers said he thought the declines were only temporary.
See "Durable Goods and Job Data Are Disappointing", The New York Times, June 24, 2004