Factory orders in the US were higher than economists’ estimates in June, according to the data announced by the US government.
In particular, factory orders rose 2% in June, well above analysts’ forecasts in a MarketWatch poll for a 1.2% rise.
Orders for durable goods lasting at least three years rose 2 percent in June, according to the revised measure, instead of the initial estimate of a 1.9 percent rise.
The increase was mainly due to increased orders for cars and military aircraft.
Orders for non-durable goods such as clothing and food also rose 2 percent, while orders for non-defense capital goods, excluding aircraft, rose 0.7 percent, versus the initial estimate of a 0.5 rise %.
Source: Capital
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