WASHINGTON — U.S. factory orders fell 1.2% in June, the second straight monthly decline, and more than double the drop economists expected, the Commerce Department reported Tuesday.
Orders excluding transportation fell 1.1%, the third consecutive decline.
Economists expected factory orders would fall 0.5% for the month, according to the median estimate from Thomson Reuters.
Factory orders in May were revised lower to a drop of 1.8% from the 1.4% slide reported last month, the largest decrease since March 2009. May orders excluding transportation were also revised lower to a 1.2% decline from the previously reported 0.6% dip.
Durable goods orders fell 1.2% and durable goods excluding transportation fell 0.9%. Orders for transportation equipment have fallen in four of the last five months and posted the largest drop among durable goods categories, dropping 2.0% drop in June.
Total factory orders were up 14.6% from a year ago in June.
