US factory orders plummet 3.3% in June

By Ovunc Kutlu

ISTANBUL (AA) - US factory orders plummeted 3.3% in June, down for the second time after three consecutive monthly increases, according to Commerce Department figures released Friday.

New orders for manufactured goods, which measure the change in the value of new purchase orders placed with manufacturers, decreased $19.1 billion to $564.2 billion.

The figure for May was unrevised at a decline of 0.5%.

New orders for manufactured durable goods in June, meanwhile, dove $18.8 billion, or 6.7%, to $264.1 billion – down for the first time after four consecutive monthly increases.

Transportation equipment, down two of the last three months, led the decline with a fall of $19.6 billion, or 20.6%, to reach $75.8 billion.

New orders for manufactured non-durable goods, meanwhile, decreased $0.3 billion, or 0.1%, to $300 billion.