U.S. Factory Orders Continue To Skyrocket In July
02 Septiembre 2020 - 5:35AM
RTTF2
New orders for U.S. manufactured goods showed another
substantial increase in the month of July, according to a report
released by the Commerce Department on Wednesday.
The Commerce Department said factory orders soared by 6.4
percent in July, matching the upwardly revised spike seen in
June.
Economists had expected factory orders to surge up by 6.0
percent compared to the 6.2 percent jump originally reported for
the previous month.
Factory orders continued to spike as orders for durable goods
skyrocketed by 11.4 percent in July after soaring by 7.7 percent in
June. Orders for transportation equipment led the way higher.
The Commerce Department said orders for non-durable goods also
increased by 1.8 percent in July after jumping by 5.3 percent in
June.
The report also showed a continued increase in shipments of
manufactured goods, which surged up by 4.6 percent in July after
spiking by 10.0 percent in June.
Meanwhile, inventories of manufactured goods fell by 0.5 percent
in July after rising by 0.5 percent in the previous month.
With shipments jumping and inventories falling, the
inventories-to-shipments dropped to 1.43 in July from 1.51 in
June.
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