Economic Buzz: US factory orders rise 0.9% in July

New orders for manufactured goods in the United States stood at $663.6 billion in July, rising 0.9% month-over-month, the US Census Bureau reported on Wednesday.

Shipments rose by 0.8% or $5.3 billion compared to June, landing at $658.8 billion, while unfilled orders increased 0.6% or $9.9 billion to $1.6 trillion. The unfilled orders-to-shipments ratio declined to 6.81 from 6.84.

Inventories amounted to $966.9 billion, going up 0.4% or $3.5 billion on a monthly basis. The inventories-to-shipments ratio stood at 1.47, unchanged from June.

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