FACTORY ORDERS RISE IN JUNE, BUT MISS FORECASTS

June factory orders data are out.

Orders rose 1.5% in June after advancing an upward-revised 3.0% in May, missing expectations for a larger 2.3% rise.

Below is a summary of the data from the release:

New orders for manufactured goods in June, up four of the last five months, increased $US7.6 billion or 1.5 per cent to $US496.7 billion, the U.S. Census Bureau reported today. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 3.0 per cent May increase. Excluding transportation, new orders decreased 0.4 per cent.

Shipments, down three of the last four months, decreased $US2.0 billion or 0.4 per cent to $US481.8 billion. This followed a 1.0 per cent May increase.

Unfilled orders, up four of the last five months, increased $US21.5 billion or 2.1 per cent to $US1,029.9 billion. This was at the highest level since the series was first published on a NAICS basis and followed a 1.2 per cent May increase. The unfilled orders-to-shipments ratio was 6.38, up from 6.23 in May.

Inventories, up six of the last seven months, increased $US0.7 billion or 0.1 per cent to $US627.7 billion. This was at the highest level since the series was first published on a NAICS basis and followed a 0.1 per cent May decrease. The inventories-to-shipments ratio was 1.30, unchanged from May.

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