US factory orders down in June

By Mucahithan Avcioglu

ISTANBUL (AA) - US factory orders fell 4.8% month-on-month in June, less than market expectations, according to official data released Monday.

The value of orders in June totaled $611.7 billion in June, US Census Bureau data showed.

The May figure for factory orders was revised upward to 8.3% from 8.2%.

The expectation for June was a month-on-month decline of 4.9%.

Shipments, up for the two previous months, rose $2.9 billion, or 0.5%, to $602.4 billion.

Unfilled orders, up 11 of the last 12 months, climbed $14.3 billion in June, or 1%, to $1.47 trillion.

Inventories, up eight of the last nine months, increased $1.6 billion, or 0.2%, to $945.6 billion.

Meanwhile, the inventories-to-shipments ratio was unchanged from May, at 1.57.

Factory orders are important for shedding light on the near future performance of the industrial sector – an important spot in the US economy.