July Factory Orders Down; Ex-Transportation up 0.5%
WASHINGTON – The value of new factory orders fell by 3.3% in July, falling slightly lower than the expected 3.1% drop by analysts from an MNI survey. Nondurable goods orders rose 0.4%, but durable goods orders were unrevised at a 6.8% decline, data released by the Commerce Department Tuesday morning showed.
Petroleum and coal products shipments rose by 2.2% in July. Nondurables shipments are equivalent to orders in this report.
Total factory orders excluding transportation rose 0.5% in July, while durable goods orders excluding transportation were up 0.6%, revised up from the 0.5% increase in the advance estimate.