US factory orders up 0.9% in July led by aircraft
Factory orders in the US jumped 0.9% in July, beating predictions and recovering from a dip in June.
The big boost came from civilian aircraft and parts, which soared by 12.7%.
Orders for motor vehicle bodies, parts and trailers rose 0.4%, and machinery orders increased 0.8%, but not every sector was thriving: computer and electronic product orders actually dropped.
US factory orders up 6.5% yearly
Overall, factory orders are up 6.5% compared with last year, showing some steady growth despite ups and downs across sectors.
While shipments of business equipment rose 1.2%, actual new orders stayed flat, a sign that companies are cautious but still investing.
Imports of capital goods climbed too, suggesting businesses are not backing down even with supply chain hiccups and global tensions hanging around.