The USA factory orders beat expectations in July

Factory orders in the USA rose 0.4 percent in July, exceeding market expectations.

The USA Department of Commerce released factory order data for July.

Accordingly, factory orders in the country increased by 0.4 percent in July compared to the previous month and reached 508.1 billion dollars.

Factory orders, which rose above market expectations, were expected to increase by 0.3 percent.

Factory orders rose 1.5 percent in June.

Durable goods orders increased by 0.1 percent to $257.4 billion, while orders for non-durable goods increased by 0.9 percent to $250.7 billion in the said period.

Factory orders are important in terms of shedding light on the near future performance of the industrial sector, which has an important place in the US economy.