New factory orders for manufactured goods jumped 1.3% in July, the Commerce Department said yesterday.
The factory order increase, to $465.426 billion, was larger than the 0.8% increase projected by IFR Markets and came after a revised 2.1% increase to $459.576 billion in June, originally reported as a 1.7% increase to $457.630 billion.
Excluding transportation, the level of all new manufacturing orders rose 1.0% to about $407.9 billion in July, following a 2.7% rise in June to $403.8 billion, originally reported as 2.3% jump to $402.3 billion. The increase compared to a 1.5% increase projected by IFR Markets.
Excluding military orders, new orders grew 2.0% to $454.1 billion, following a 1.8% increase to $445.4 billion in June.
New orders for durable goods were up 1.3% to $219.6 billion in July, while orders for non-durable goods jumped 1.2% to $245.9 billion in the month.
Inventories were up 0.5% to $558.2 billion, while the inventory to shipment ratio fell to 1.20 from 1.22 in June.
