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US factory orders shrink in July

by ChemOrbis Editorial Team -
  • 06/09/2017 (18:09)
According to data released by the US Commerce Department, the country’s factory orders plunged in July by 3.3% from a revised increase of 3.2% in June, beating the economists’ estimates of a drop of 3.2%.

The decrease in factory orders stemmed from a steep drop of 19.2% in orders for transportation equipment in July. However, factory orders rose by 0.5% in July when the sharp decline in orders for transportation equipment is excluded.

Meanwhile, orders for non-defense capital goods excluding aircraft increased by 1% on the month after falling by 0.1% in June.
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