US factory orders grow more quickly than expected in June
Factory orders in the US grew more quickly than expected last month.
According to the Department of Commerce, in seasonally adjusted terms, orders for manufactured goods increased at a month-on-month clip of 6.2% to reach an annualised rate of $437.21bn.
Economists had forecast an increase of 5.0%.
Orders for durable goods, or those made to last more than three years, increased by 7.6% on the month (Preliminary: 7.3%) following downwardly-revised growth of 15.0% in the month before.
May's increase was originally reported as up by 15.7%.
Non-durable goods orders meanwhile were ahead by 5.0% to $229.97bn.