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U.S. factory orders improved in June

U.S. factories saw demand for their products improve in June — but not as much as some hoped.
/ Source: The Associated Press

U.S. factories saw demand for their products improve in June — but not as much as some hoped.

The Commerce Department reported Thursday that new orders placed with manufacturers rose 0.6 percent. That was better than the 0.5 percent drop registered in May. Economists, however, were forecasting a more robust, 1 percent gain.

Still, the overall gain registered in June did mark the best showing since March.

Demand for “durable” goods, including machinery, airplanes, turbines, generators and electrical equipment rose by 1.3 percent in June. Orders for durable goods dropped 2.4 percent in May.

Demand for “nondurable” goods, including clothing and meat, poultry and seafood products, meanwhile, edged down 0.1 percent in June. That compared with a 1.5 percent increase in the previous month.