U.S. FACTORY ORDERS BEAT EXPECTATIONS
U.S. factory orders rose 0.9% in July, beating expectations for a 0.6% increase and rebounding from June’s decline.
Orders excluding transportation climbed 0.6%, while orders excluding defense jumped 1.0%.
Durable goods orders were confirmed at +1.1%, while nondurable goods orders increased 0.7%.
However, computers and electronic products orders fell 1.1%, reversing June’s 3.1% gain.
Overall, the data points to stronger U.S. manufacturing demand in July, despite weakness in the technology segment.