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Stock impact report

5 Industrial Products Stocks to Buy on Jump in Durable Goods Orders [Yahoo! Finance]

Lakeland Industries, Inc. (LAKE) 
Last lakeland industries, inc. earnings: 9/9 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The Commerce Department said on Apr 24 that orders for U.S. manufactured goods made to last more than three years rose 2.6% in March, slightly above the consensus estimate of a rise of 2.5%. However, durable goods orders for February were revised down from 1.4% to 0.7%, indicating that although manufacturing activity picked up, it remained slow in the first quarter. The jump in March can be attributed to a 31% surge in orders for Boeing aircraft. Non-defense capital goods orders, excluding aircraft, rose 0.2%, which was in line with analysts' expectations. Although the rise is moderate, the good sign is that orders are again climbing after slowing down for months as higher borrowing costs dried up demand. The Federal Reserve increased interest rates by 525 basis points to take its benchmark policy rate to the current range of 5.25-5.5% in its bid to combat 40-year-high inflation. The Federal Reserve's aggressive stance weighed on the economy, with the manufacturing sector s Show less Read more
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