New U.S. factory orders beat expectations in June amid rising COVID cases

New orders for U.S.-made goods increased more than expected in June, suggesting the manufacturing sector was regaining its footing though rising COVID-19 cases threaten the tentative recovery.

AFP
New orders for U.S.-made goods increased more than expected in June, suggesting the manufacturing sector was regaining its footing though rising COVID-19 cases threaten the tentative recovery.

The Commerce Department said on Tuesday factory orders increased 6.2% after rebounding 7.7% in May. Still, orders remained below their February level. Economists polled by Reuters had forecast factory orders advancing 5.0% in June.
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