Factory Orders Post Another Strong Increase in June

Factory orders have been surging in May and June by nearly 13%


Factory orders weren’t in the best position even before the coronavirus broke out in February/March. They were quite volatile, turning positive and negative pretty often, but in March they posted a major decline of 11%, which got bigger in April at -13%, wich was revised lower to -13.5%. But. we saw a strong jump in May, which became stronger in June, as today’s report showed:

June US factory orders data

  • June factory orders +6.2% vs +5.0% expected
  • May factory orders were +8.0% (revised to +7.7%)
  • Prelim durable goods orders were +7.3%
  • Ex transport +4.4% vs +2.6% prior
  • Capital goods orders non-defense ex air +3.4% vs +3.3% prelim
  • Capital goods shipments +3.3% vs +3.4% prelim
  • Factory orders ex defense +7.0% vs +7.5% prior
These are good signs for the US economy. Factory orders increased by 7.7%, while today’s report showed a 6.2% for June. Although, the increase of the last two months still doesn’t make up for the previous declines. But, this is a good trend nonetheless, although let’s see if they will keep it up in the coming months.
ABOUT THE AUTHOR See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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