By Ovunc Kutlu
ANKARA (AA) - US factory orders fell 1% in July, coming against the market estimate of an increase, the Commerce Department said Friday.
New orders for manufactured goods decreased $5.7 billion to $548.5 billion, ending nine consecutive monthly increase.
While the market expected a gain of 0.2%, the June figure was revised to $554.2 billion for a 1.8% increase.
New durable goods orders decreased $0.4 billion, or 0.1%, to $273.2 billion – down after four consecutive monthly increase.
Durable goods orders posted a 2.3% gain in June.
Transportation equipment led the decline with $0.7 billion, or 0.7%, decreasing to $92.9 billion.
New orders for manufactured nondurable goods fell $5.3 billion, or 1.9%, to reach $275.4 billion.