Economic Buzz: US factory orders down 0.3% in June

New orders for manufactured goods in the United States stood at $656.5 billion in June, slipping 0.3% month-over-month, data from the US Census Bureau showed on Tuesday.

Shipments decreased by 0.2% or $1.1 billion compared to May, landing at $652.1 billion, while unfilled orders increased 0.6% or $9.6 billion to $1.5 trillion.

Inventories amounted to $962.9 billion, going up 0.1% or $0.9 billion on a monthly basis. The inventories-to-shipments ratio stood at 1.48, up from May's ratio of 1.47.

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