U.S. June factory orders stronger than expected -
Wednesday, August 4, 2004 2:29:42 PM
WASHINGTON (AFX) - Orders for U.S-made factory goods increased 0.7 percent in June, the fourth gain in the past five months, the Commerce Department estimated Wednesday. Much of the increase came from a 79.1 percent rise in orders for defense aircraft. Orders for core capital goods increased 1.1 percent
Excluding defense goods, orders rose 0.1 percent in June. Excluding transportation goods, orders rose 0.1 percent. Economists were expecting orders to rise 0.6 percent, according to a survey by CBS MarketWatch. Considering the large upward revision to May's data, orders were much stronger than expected
Factory orders increased 0.4 percent in May, in contrast to the 0.3 percent decline originally reported
In a separate report, the Institute for Supply Management said its non-manufacturing sentiment index rose to 64.8 percent in July from 59.9 percent in June, despite a decline in the employment index. Factory shipments increased 0.7 percent in June to a record $367.2 billion after rising 0.6 percent in May
Inventories increased 0.7 percent in June, matching May's increase. Unfilled orders increased 0.6 percent in June, matching May's increase
Wednesday's report updates last week's report on durable goods orders and shipments, while adding detail on nondurable goods
Orders for durable goods increased 0.9 percent, revised up from last week's estimate of 0.7 percent. Nondurable goods orders increased 0.5 percent
Shipments of durable goods increased 0.8 percent in June, revised up from last week's estimate of 0.7 percent. Shipments of nondurable goods increased 0.5 percent, with paper products showing the largest gain
Inventories of durable goods increased 0.9 percent, the largest gain in 4 1/2 years. Inventories of autos increased 5 percent, while inventories of computers climbed 7.1 percent. Inventories of nondurable goods increased 0.4 percent
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