BIG MISS: Factory Orders Fall 0.5%

Factory Pollution

Photo: Wikimedia Commons

UPDATE:Orders for factory goods declined 0.5 per cent in June, missing economist expectations for a moderate gain, new data out of the Census Bureau shows

New orders fell $2.1 billion to a $465.8 billion.

Transportation orders continued to support the economy, improving $5.1 billion, or 8 per cent, to $68.7 billion.

Electronic sales dipped during the month, as orders for computers fell more than 11.8 per cent month-on-month. 

ORIGINAL:

Minutes away from the final major data point of the day: U.S. factory orders.

Economists polled by Bloomberg forecast orders increased 0.5 per cent in June.

That would be a slightly slower pace than the 0.7 per cent advance logged in May.

The announcement is scheduled for 10:00 a.m.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.