P.M. BRIEFING : July Factory Orders Rise 1.6%, Continuing Zigzag Path for Year
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WASHINGTON — Orders to factories for manufactured goods rose 1.6% in July, nearly regaining their loss in June as they continued to follow a zigzag path this year, the government reported today.
The Commerce Department said orders for both durable and non-durable goods totaled a seasonally adjusted $240.3 billion after a 1.9% decrease in June.
Orders also declined in January and April and increased in February, March and May.
“Most of the increase in orders in July was for durable goods, up $3.5 billion, or 2.8%, to $128.2 billion,” the report said. The increase was a slight downward revision from the 2.9% advance reported last week.
Orders for durable goods--big-ticket items expected to last more than three years--had fallen 3% in June.
Non-durable goods orders gained 0.2%, to $112.1 billion, after falling 0.4% a month earlier.
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