Factory orders rise in July after two months of weakness

By Greg Robb

Orders rise 5%, but excluding transportation were up a slight 0.4%

Orders for U.S. manufactured goods rose 5% in July, the Commerce Department said Wednesday. The gain follows two straight monthly declines.

The rise in factory orders in July was in line with the consensus forecast of economists surveyed by the Wall Street Journal.

According to the report, durable-goods orders surged a revised 9.8% in July on the back of higher aircraft orders. The increase is down slightly from the initial estimate of a 9.9% gain.

Aircraft orders are volatile. Excluding transportation, factory orders were up 0.4% in July after a slight 0.1% gain in the prior month.

Non-durable goods orders rose 0.8% in July after being flat in the prior month.

Orders for nondefense capital goods, excluding aircraft, fell 0.1% in July, unrevised from the initial estimate. Shipments of these key orders fell 0.3%.

-Greg Robb

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09-04-24 1018ET

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