US Factory Orders Rise by 6.2% in June

Factory orders in the United States increased by 6.2% during June, data by the US Department of Commerce showed on Tuesday.

The rise in factory orders last month came in higher that initially expected, largely thanks to an 86.2% rise in motor vehicle and parts orders.

In addition, transportation equipment orders grew by 20.2%, while machinery orders increased by 3%.

The data supports the positive signals by the IHS Markit U.S. Manufacturing Purchasing Managers’ Index (PMI), which recorded 50.9 in July, up from 49.8 in June, as well as the ISM industrial activity index registered 54.2 in July, compared with 52.6 in June.