US factory orders rise 1.1% in June

Written By Unknown on Rabu, 06 Agustus 2014 | 00.00

ORDERS to US factories increased in June, led by demand for aircraft, industrial machinery and computers and electronics.

THE Commerce Department reports that orders rose a seasonally adjusted 1.1 per cent compared to the month prior.

Factory orders had fallen 0.6 per cent in May after three straight months of gains.An 8.4 per cent jump in demand for commercial aircraft fuelled the latest gains.But there were additional increases outside this volatile category that point to businesses investing with the expectation of economic growth.Orders for machinery rose 2.9 per cent.Iron and steel mills had a 1.7 per cent increase in demand, while orders for computers and electronic products were up 2.9 per cent.Excluding military hardware, factory orders rose 1 per cent in June from May.Over the past year, factory orders were up 2.5 per cent.

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