July factory orders fall more than projected

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New orders for manufactured goods decreased 0.8% in July, after growing a revised 0.6% in June, the Commerce Department reported Thursday.

June’s gain was first reported as 0.7%

Economists polled by IFR Markets expected orders to be down 0.7%.

Excluding transportation, new orders rose 0.2%, after a 0.4% gain the previous month. Excluding defense, orders were 0.4% lower after a 0.9% increase in June.

Durable goods orders were 1.7% lower in July after a 0.9% increase in June, while nondurable goods orders gained 0.2% in July after a 0.4% rise in June.

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