June Factory Orders Jump 1.8%; Ex-Transportation Up 0.5%

New orders for manufactured goods increased 1.8% in June, after falling a revised 1.1% in May, first reported as a 1.0% decrease, the Commerce Department reported Tuesday.

Economists polled by Thomson Reuters expected orders to rise 1.8%.

Excluding transportation, new orders were up 0.5%, after a 0.1% dip the previous month. Excluding defense, orders were up 1.9% after a 1.2% decline in May.

Durable goods orders were 3.4% higher in June after a 2.3% decrease in May, while nondurable goods orders were up 0.4% in June after a steady reading in May.

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