Corp 1000

U.S. factory orders rise 2% in June, above forecast

U.S. factory orders rose 2% in June, the government said Wednesday, in a report that offered some good news about the economy. Economists polled by MarketWatch had forecast a 1.2% gain. Orders for durable goods made to last at least three years climbed a revised 2% in June, up from an initial 1.9%. Most of the increase was in autos and military planes. Orders for nondurable goods such as clothing and food products also rose 2%. Orders for nondefense capital goods, excluding aircraft rose a revised 0.7%, up from the prior reading of a 0.5% gain. Manufacturers are growing more slowly as the economy decelerates, but they are still growing.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Oil futures turn lower after unexpected rise in crude, gasoline inventories
Next post Ford stock surges toward 3 1/2-month high after July U.S. vehicle sales jump, to buck industry declines