US Factory Orders Dip Less Than Expected

(MENAFN) Orders placed with American manufacturers witnessed a 4.8% decline in June on a monthly basis, a smaller drop than analysts had projected, based on official figures unveiled on Monday.

According to data from the US Census Bureau, the total value of factory orders reached $611.7 billion in June.

This comes despite forecasts expecting a steeper monthly decrease of 4.9%.

Meanwhile, May's performance was revised upward, with the previously reported rise of 8.2% in orders adjusted to 8.3%.

Shipments, which had risen during the two preceding months, increased by $2.9 billion, or 0.5%, reaching a total of $602.4 billion in June.

Backlogged orders, which have shown upward movement in 11 of the past 12 months, grew by $14.3 billion—a 1% rise—bringing the total to $1.47 trillion.

Stockpiles of manufactured goods, which have risen in eight of the last nine months, climbed by $1.6 billion, or 0.2%, to a total of $945.6 billion.

Meanwhile, the ratio of inventories to shipments stayed unchanged compared to May, holding steady at 1.57.

Factory order figures serve as a crucial indicator for anticipating the short-term trajectory of the industrial sector, which remains a significant pillar of the American economy.

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