New orders for U.S.-made goods rose for a second straight month in June, but business spending plans on equipment were not as strong as initially thought, suggesting a further slowdown was likely in the third quarter.
Factory goods orders increased 0.7 percent, boosted by strong demand for transportation equipment, electrical equipment, appliances and components as well as computers and electronic products, the Commerce Department said on Thursday.
Factory orders increased by an unrevised 0.4 percent in May/June’s rise in factory orders was in line with economists’ expectations. Orders increased 8.0 percent on a year-on-year basis in June.
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