U.S. factory orders rise sequentially in June on solid rise in durable goods orders

Factory orders in the U.S. rose in June on strong rise in durable goods orders. On a sequential basis, factory orders were up 0.7 percent, in lie with consensus expectations. Stripping transportation, factory orders rose modestly by 0.4 percent sequentially once the monthly rise of 2.1 percent in transportation was excluded.

Core capital goods orders were up 0.2 percent sequentially. It is worth noting that the preliminary data on durable goods orders were all downwardly revised in today’s release, noted Barclays in a research report.

Meanwhile, non-durable goods rose 0.5 percent sequentially in June, compared with a solid 1.1 percent rise in the earlier month. Overall, today’s data are in line with continued strong momentum in manufacturing, although slowing slight from the rapid rate of growth in February and March, stated Barclays.

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