US factory orders jump 5% in July

By Ovunc Kutlu

ISTANBUL (AA) - US factory orders jumped 5% in July, compared to the previous month, rising for the first time after two consecutive monthly decreases, according to Commerce Department figures released Wednesday.

New orders for manufactured goods, which measure the change in the value of new purchase orders placed with manufacturers, increased $28.2 billion to $592.1 billion.

The figure for June was slightly revised down to $564 billion from $564.2 billion for a decline of 3.3%.

New orders for manufactured durable goods in July, meanwhile, rose $25.9 billion, or 9.8%, to reach $289.5 billion -- up five of the last six months.

Transportation equipment, up two of the last three months, led the increase with a rise of $26.3 billion, or 34.7%, to reach $102.1 billion.

New orders for manufactured non-durable goods, meanwhile, increased $2.3 billion, or 0.8%, to $302.7 billion.