8/4, 4:00 PM (Source: TeleTrader)
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US factory orders jump 6.2% in June

New orders for manufactured goods in the United States in June jumped by 6.2% or $25.5 billion to $437.2 billion compared to the previous month, the US Census Bureau reported on Tuesday.

Shipments rose by $40.7 billion or 9.8% to $457.3 billion. Meanwhile, inventories of manufactured goods increased $4 billion or 0.6% to $690.9 billion during the same month.

The inventories-to-shipments ratio stood at 1.51, down from the 1.65 reported in May.

Breaking the News / NP