June U.S. Factory Orders Meet Expectations

New orders for U.S. manufactured goods increased a full percentage point in June to $400.5 billion, the U.S. Commerce Department reported on Aug. 2. The increase was in line with economists' expectations, but was only about one-third of the 2.9% gain that factory orders posted in May.

In June, new orders for manufactured durable goods such as airplanes, autos and appliances, increased 2% to a seasonally adjusted $216.7 billion. The increase was six-tenths of a percent higher than the 1.4% increase initially reported. New orders for nondurable goods parted company from durables in June, falling two-tenths of a percentage point from May's mark to $183.9 billion.

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