In June, US factory orders dropped 3.3% due to a 6.7% decline in durable goods, mainly transportation equipment.
In June, US factory orders fell 3.3% vs. expected 2.9% decline, largely due to a 6.7% drop in durable goods orders, particularly transportation equipment. Shipments rose 0.5% and inventories decreased slightly, resulting in a lower inventories-to-shipments ratio. Business spending on equipment remained solid with a 0.9% increase in non-defence capital goods excluding aircraft.
August 02, 2024
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