US factory orders rise 1.8% in June
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the US Commerce Department, new factory orders increased 1.8% in June after posting a revised decline of 1.1% in May. The June data was in line with economists’ initial estimates.
The increase was attributed to stronger orders for transportation equipment, which rose 9.3% in June on the back of higher demand for aircraft. The data also showed that orders for machinery and electrical equipment, appliances and components posted increases in June while orders for non-defense capital goods excluding aircraft also climbed 0.7% after increasing 0.9% in the previous month.
Shipments for core capital goods, meanwhile, increased 0.3% in June.
The increase was attributed to stronger orders for transportation equipment, which rose 9.3% in June on the back of higher demand for aircraft. The data also showed that orders for machinery and electrical equipment, appliances and components posted increases in June while orders for non-defense capital goods excluding aircraft also climbed 0.7% after increasing 0.9% in the previous month.
Shipments for core capital goods, meanwhile, increased 0.3% in June.
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