Factory Orders Dip; Another Gloomy Signal

U.S. factory orders for manufactured goods fell 0.3% in June, the second consecutive decline, the government said today, adding to a string of recent gloomy reports reflecting a sluggish economy.

The Commerce Department said factory orders totaled $191.5 billion in June after a 0.5% May decline.

It marked the fourth decline in orders in the last six months. Orders have fallen 4.9% from their high of $201.2 billion in December.

The government said orders for durable goods, items expected to last three or more years, rose a tiny 0.1% last month. Orders for nondurable goods fell 0.7% in June after a tiny 0.1% increase in May. The big decline was attributed to a drop in orders for petroleum products.