Economic Buzz: US Factory Orders Rise 2.0% In June

4 Aug 2022 , 08:52 AM

New orders for U.S. manufactured goods showed a significant increase in the month of June, according to a report released by the Commerce Department. The report showed factory orders shot up by 2.0 percent in June after surging by an upwardly revised 1.8 percent in May. The bigger than expected increase in factory orders came as orders for both durable goods and non-durable goods spiked by 2.0 percent. The report showed shipments of manufactured goods also increased by 1.1 percent in June following a 2.1 percent surge in May. Inventories of manufactured goods also rose by 0.4 percent in June after jumping by 1.3 percent in May. With shipments increasing by more than inventories, the inventories-to-shipments ratio edged down to 1.45 in June from 1.46 in May.Powered by Commodity Insights