US factory orders down by 2.1% in July
EPA-EFE/JOHN G. MABANGLO
New orders for manufactured goods in the United States observed a monthly decrease of 2.1% or $12.7 billion to come in at $579.4 billion in July, landing lower than analysts predicted, the Census Bureau said in its report published on Tuesday.
Shipments rose by 0.5% or $2.9 billion compared to the previous month to stand at $577.2 billion. Inventories grew by 0.1% or $0.6 billion month-on-month to reach $852.5 billion.
The stocks/shipments ratio was 1.48, the same as in June. Meanwhile, new orders for manufactured durable goods decreased by 5.2% or $15.7 billion to $285.5 billion.