Factory Orders Rise 1.3%; Ex-Transport Off 0.7%

New factory orders for manufactured goods climbed 1.3% in July, the Commerce Department said yesterday.

The factory order increase, to $355.466 billion, compared to the 2.2% increase projected by Thomson Reuters and came after a revised 0.9% increase to $350.913 billion in June, originally reported as a 0.4% rise to $349.027 billion.

Excluding transportation, the level of all new manufacturing orders slid 0.7% to about $311.7 billion in July following a 2.7% climb in June to $314.0 billion, originally reported as a 2.3% jump to $305.7 billion.

Excluding military orders, new orders rose 0.9% to $342.1 billion, following a 1.9% increase to $339.0 billion in June.

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