WASHINGTON (MNI) - The value of new factory orders fell 2.4% in July, slower than the 3.5% decline expected in an MNI survey, as a slight downward revision in durables orders was partially offset by an increase in nondurable goods orders, data released by the Commerce Department Thursday morning showed.

The increase in nondurables orders meant total factory orders excluding transportation bounced back in July, up 1.2% after a 0.3% decline in June. Non-transportation durables orders were revised to a 0.8% decline after a 0.1% gain the previous month, an MNI calculation shows.

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