(CercleFinance.com) – Factory orders in the United States fell in July, reflecting a slowing trend in manufacturing activity, data released by the Commerce Department showed on Friday.
According to this statistic, new orders for manufactured goods fell by 1% after a revised increase of 1.8% in June, while economists were counting on the contrary on an increase of 0.2%.
This decline, which puts an end to a series of nine consecutive months of increases, is due in particular to a decline in orders for turbines and generators for the energy sector and a fall in orders for military aircraft.
Inventories rose 0.1%, while shipments fell 0.9%, resulting in an inventory-to-shipment ratio of 1.47, down from 1.46 in June.
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