US factory orders fall 2.1% in July

ORDERS for US factory goods declined in July, nearly reversing the prior month’s rise and ending a four-month streak of gains, the Commerce Department reported on Tuesday (Sep 5).

New orders for factory goods fell by 2.1 per cent in July after rising by 2.3 per cent in June, the government said.

Economist polled by Reuters had expected a bigger fall for July, at a projected 2.5 per cent decline. Orders rose by 0.5 per cent from July a year ago. REUTERS