Here come factory orders ...

The Census Bureau will release the revised report on factory orders in June at 10:00 a.m. ET.

Economists estimate, according to Bloomberg, that orders rose 1.7%, bouncing back from a 1% decline in the prior period.

The advance report released last week showed that new orders for manufactured durable goods rose $US7.7 billion, or 3.4%, to $US235.5 billion.

In a preview of the data to clients, Nomura economists wrote: “Factory orders have been weak since late summer, as various factors such as the strong dollar, low oil prices, bad weather, and the West Coast port disruptions have slowed business activity. However, we may see some turnaround in June as the strong increase in total durable goods orders in June sets a high baseline for factory orders (primarily due to a jump in transportation orders).”

We’ll have all the latest details once they cross.

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