"US Factory Orders Plummet in July, Raising Concerns for the Economy"
TL;DR Summary
US factory orders for manufactured goods dropped 2.1% in July, marking the first decline after four consecutive monthly gains. Economists attribute the decrease to higher interest rates impacting business equipment spending. Durable-goods orders fell 5.2%, while non-durable goods orders rose 1.1%. US stocks traded lower following the long holiday weekend.
Topics:business#durable-goods#economic-indicators#economy#factory-orders#interest-rates#us-manufacturing
- U.S. factory orders plunge in July after four straight gains MarketWatch
- US Factory Orders decline 2.1% in July vs. -0.1% expected FXStreet
- Factory Orders Declined in July Barron's
- The week ahead in business | | postandcourier.com Charleston Post Courier
- ISM Services PMI Preview: Strength may spook markets, boosting US Dollar FXStreet
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
0 min
vs 1 min read
Condensed
58%
119 → 50 words
Want the full story? Read the original article
Read on MarketWatch