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- U.S. factory orders increase less than forecast in June
U.S. factory orders increase less than forecast in June
The U.S. Commerce Department reported on Friday that the value of new factory orders rose 0.6 percent m-o-m in June, following a revised 1.3 percent decline in May (originally a 0.7 percent m-o-m drop).
Economists had forecast a 0.8 percent m-o-m gain.
According to the report, orders for transportation equipment surged 3.7 percent m-o-m in June after plunging 7.5 percent m-o-m in May, while machinery orders increased 2.1 percent m-o-m, following a 0.1 percent m-o-m advance in the previous month. At the same time, orders for computers and electronic products edged down 0.2 percent m-o-m after a 0.5 percent m-o-m gain in May.
Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, edged up 0.1 percent m-o-m in June (compared to a flat m-o-m performance in May), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, increased 1.5 percent m-o-m (compared to a 1.9 percent m-o-m climb in May). The report also showed that shipments of core capital goods rose 0.3 percent m-o-m in June, following an advance of 0.6 percent m-o-m in May.
In y-o-y terms, factory orders increased 0.2 percent in June.
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