Factory Orders Post Another Strong Increase in June
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.
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