U.S. manufacturing new orders in July increased by 5.0% compared to the previous month, exceeding financial estimates.

September 5, 2024, 3:59 AM GMT+9

The U.S. Department of Commerce announced that new orders for manufacturing in July increased by 5.0% compared to the previous month. The strong performance of defense aircraft exceeded the market estimate of 4.7% growth. However, other demand was moderate due to the rise in interest rates.
Orders for non-defense capital goods (core capital goods), excluding aircraft and considered as an indicator of corporate capital investment plans, decreased by 0.1%. This was the same as the previous announcement.
Orders for non-defense capital goods increased by 42.0%. The previous announcement was an increase of 41.9%.