Monday, 20 September, 2021
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US factory orders beat expectations in June

US factory orders beat expectations in June

WASHINGTON: New orders for US-made goods increased more than expected in June, while business spending on equipment was solid, pointing to sustained strength in manufacturing even as spending is shifting away from goods to services.

The Commerce Department said on Tuesday that factory orders rose 1.5 per cent in June after advancing 2.3 per cent in May. Economists polled by Reuters had forecast factory orders increasing 1.0 per cent, report agencies.