June US Factory New Orders Fall Unexpectedly, Ex-Transportation Orders Lower
New orders for US factory goods fell by 0.3% in June, in contrast with expectations for a 0.2% increase in a survey compiled by Bloomberg as of 7:30 am ET and following a revised 1.1% decrease in May.Excluding a 0.1% drop in transportation orders, new orders would have been down 0.4% after a 2% gain in May, compared with expectations for a 0.4% gain.Durable goods new orders were revised upwards to a 0.5% gain from the advance estimate of a 0.3% gain and follows a 4% decline in May.Nondurable goods new orders decreased by 1.2% after a 2.2% increase in the previous month.Factory shipments decreased by 0.2%, while unfilled orders increased by 0.6%.Factory inventories rose by 0.1% and, when combined with already-published advance estimates for retail and wholesale inventories, shows business inventories on pace for a 0.1% gain in the month.