Factory Orders Off 0.8 Percent In June
August 3, 2011 by UPI - United Press International, Inc.
WASHINGTON, Aug. 3 (UPI) — U.S. factory orders fell 0.8 percent in June, twice the drop economists expected, the U.S. Census Bureau reported Wednesday.
Economists expected factory orders to fall 0.4 percent.
Orders fell for the second month out of the past three, dropping by $3.8 billion to $440.7 billion.
Excluding transportation items, orders rose 0.1 percent.
Orders in transportation by itself — the category that includes planes, trains, ships and trucks — fell by $4.3 billion or 8.6 percent to $45.3 billion, making up the bulk of the decrease.
For durable goods, orders fell by $3.8 billion or 1.9 percent to $192.4 billion.
Orders for non-durable goods rose slightly, the bureau said, to $248.2 billion.
Inventories of durable goods, up 18 consecutive months, rose by $1.8 billion or 0.5 percent to $357.8 billion.
Inventories of non-durable goods fell by $400 million or 0.2 percent to $236.5, the bureau said.