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- U.S. factory orders increase slightly more than forecast in July
U.S. factory orders increase slightly more than forecast in July
The
U.S. Commerce Department reported on Tuesday that the value of new factory
orders rose 0.4 percent m-o-m in July, following an unrevised 1.5 percent m-o-m
increase in June.
Economists
had forecast a 0.3 percent m-o-m advance.
According
to the report, orders for primary metals (3 percent m-o-m) and machinery
(+2.9 percent m-o-m) recorded the biggest increases in July. At the same time, orders
for transport equipment (-2.1 percent m-o-m) and electrical equipment,
appliances and components (-1.7 percent m-o-m) decreased the most.
Total
factory orders excluding transportation, a volatile part of the overall
reading, went up 0.8 percent m-o-m (compared to an upwardly revised 1.5 percent
m-o-m jump in June), while orders for nondefense capital goods excluding
aircraft, a measure of business spending plans, edged 0.1 percent m-o-m instead of being unchanged
as reported last month. The report also showed that shipments of core capital
goods rose 0.9 percent m-o-m in July, rather than
gaining 1.0 percent m-o-m as previously reported.
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