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Continued: Business Highlights

  • Article by: THE ASSOCIATED PRESS , Associated Press
  • Last update: July 2, 2014 - 4:45 PM

The figure suggests the government's jobs report, to be released Thursday, could also show a significant gain from May's tally of 217,000 jobs. But the ADP numbers cover only private businesses and often diverge from the government's more comprehensive report.

Recent economic data suggests that the economy has shifted into a higher gear. Autos sold at an annual rate of 16.9 million in June, the highest rate since January 2006. New orders for manufacturers are at a six-month peak, according to the Institute for Supply Management.

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US factory orders slide 0.5 percent in May

WASHINGTON (AP) — Orders to U.S. factories fell in May, ending three months of gains.

The Commerce Department reported that orders fell 0.5 percent, pulled down by falling demand for military and transportation equipment. That followed increases of 0.8 percent in April, 1.5 percent in March and 1.7 percent in February.

Excluding military hardware, factory orders rose 0.2 percent in May from April. Orders for transportation equipment fell 2.9 percent. Orders for computers and electronic equipment fell 2 percent, biggest monthly drop since December.

Orders for durable goods, meant to last three years or more, fell 0.9 percent in May. Orders for nondurable goods slipped 0.2 percent.

Factory orders were up 2.5 percent from May 2013.

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Missouri city opts not to pay for flood protection

CLARKSVILLE, Mo. (AP) — For years, tiny Clarksville has paid for temporary sandbag walls to protect its quaint business district and historic waterfront homes from Mississippi River flooding. But unwilling to raid its coffers again despite rising water levels, the city has left it to individual merchants and residents to safeguard their property.

After an unusually calm spring, the river is raging. Recent heavy rains in the upper Midwest have caused a sudden surge in the water level and by the middle of next week, the National Weather Service is projecting it to reach 9 feet above flood stage in Clarksville.

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Small business owners learn recession lessons

NEW YORK (AP) — For some small business owners, the Great Recession turned out to be a lesson in how to run their companies better.

Many owners whose businesses failed during the recession have taken the plunge again, restarting or opening new businesses. But they're not repeating past mistakes. Their companies are leaner, smarter and less risky.

There are no definitive numbers on how many small businesses failed during the recession. But there were 337,303 fewer companies with under 499 employees in 2011 than there were before the recession began, according to the Census Bureau. The government hasn't released more recent statistics, so it's not known how many new companies there are, or how many owners went on to start new businesses.

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