MW: July factory orders rise less-than-expected 1.3%
WASHINGTON (MarketWatch) - U.S. and foreign businesses stepped up their demand for capital equipment to expand production in July, the Commerce Department reported Wednesday. Factory orders increased 1.3% in July, slightly slower than the 2.0% rise expected by economists surveyed by MarketWatch. This is the fourth straight monthly increase. Orders for durable goods increased 5.1% in July, revised up from 4.9% estimated a week ago. However, orders for nondurable goods fell 1.9%, the sharpest decline since last December. Non-defense capital goods orders excluding aircraft, known as "core" orders, fell 0.3% in July after rising 3.8% in June, the government said.
