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Factory Orders Decline 0.8% in June

8/3/2011 10:30:00 AM

Factory orders decreased 0.8% in June, the Commerce Department said Wednesday.

The decline followed a revised 0.6% gain in May that was smaller than originally reported.

The June reading matched economists’ forecasts, Bloomberg reported.

Durable goods orders, which make up just over half of all orders, fell 1.9%.

Capital goods orders excluding aircraft and military orders, a measure of future business investment, rose 0.4% following a 1.9% increase in May.

The trucking industry relies on factory orders and shipments for much of its business.

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Emil Estafanous, CPA, CFF, CGMA