US Factory Orders Rise More Than Expected in July
New orders for US factory goods increased more than expected in July by 0.9 percent following a rebound in demand for commercial aircraft and parts. The manufacturing sector continues to receive support from artificial intelligence investments despite supply chain pressures.
New orders for United States factory goods rose 0.9% in July, beating analyst expectations after a revised 0.2% drop in June. The rebound was driven by demand for aircraft and equipment, according to the Commerce Department's Census Bureau on Wednesday. Economists polled by Reuters had forecast a smaller 0.6% increase.
