US Factory Orders Rise More Than Expected

[Freddie Stubbs]

WASHINGTON (Reuters) - New orders at U.S. factories rose by more than expected in June while May's decline was revised to show a gain, according to government data on Wednesday that bodes well for future manufacturing demand.
The Commerce Department said factory orders advanced 0.7 percent in June, after a revised 0.4 percent gain in May that was initially reported as a 0.3 percent fall.

Wall Street had forecast orders to grow 0.5 percent in June and the data dovetailed with an Institute for Supply Management report on Monday showing that U.S. factories stepped up the pace in July. The ISM index rose 62.0 last month from 61.1 in June.

The factory orders report was more upbeat than Tuesday's data showing U.S. consumer spending took a deeper dive than expected in June. Spending declined by 0.7 percent after rising 1.0 percent in May, although an advance in July vehicle sales signaled the consumption soft spot may prove temporary.

more: http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=5871721

[Sub Atomic]

1. More Enronomics

Does this surprise anyone?

If the numbers don't look good, just change them!!

[Danmack]

2. Like we believe anything the BA commerce dept says...NOT!!!

[cosmicdot]

3. Commerce Secty/good ol'boy Donald L. Evans doing his job for the Chimp

why would this happen when things like consumer spending and durable goods are down?

Commerce just reported that "US Economy slows drastically in Spring" ... guess they'll advise next February how bad things are now (we already know) :wtf:

"The Commerce Department said that the gross domestic product, the
country's total output of goods and services, slowed sharply in the
April-June quarter from a 4.5 percent growth rate in the first three
months of the year"
http://start.earthlink.net/newsarticle?cat=1&aid=D846ITK80_story

Manufacturing Activity Increases was reported for June ... shortly thereafter, it's reported that Factories Orders Fall for 2nd Month in Row; Recent Layoff Rate Was Highest Since Early 1980s; and other erratic behavior/reporting ...

are people overseas with money buying whatever it is we manufacture???


it's up, it's down, it's revised, pants are down; briefs are up ... stocks lower on mixed reports


of course, I have trouble understanding how under such conditions Tyco can have 63% profits in 3rd Q ... which is, like, now, isn't it? will they tell us what they made next 4th quarter?
http://start.earthlink.net/newsarticle?cat=1&aid=D847PIN80_story


:shrug:

[papau]

4. Not a statistical estimate-a voluntary online available to 3500 Bush folks

Manufacturing Shipments, Inventories and Orders (June)
Increase 0.7 % http://www.census.gov/indicator/www/m3/

Voluntary filling in of a questionaire by 3500 companies - not a statistical sample

Inventories of manufactured durable goods in June, up seven consecutive months, increased $2.3 billion or 0.9 percent to $271.6 billion, revised from the previously published $1.9 billion increase.

Inventories of manufactured nondurable goods, up six consecutive months, increased $0.7 billion or 0.4 percent to $181.3 billion.

By stage of fabrication, June materials and supplies increased 0.8 percent in durable goods and decreased 0.3 percent in nondurable goods. Work in process increased 0.9 percent in durable goods and 1.5 percent in nondurable goods. Finished goods increased 1.0 percent in durable goods and 0.4 percent in nondurable goods.


--------------------------------------------------------------------------------

Construction Put in Place (June)

Decrease 0.3% http://www.census.gov/const/C30/release.pdf


--------------------------------------------------------------------------------

Gross Domestic Product (2nd Quarter 2004)

Increase 3.0 % http://www.bea.gov/bea/newsrelarchive/2004/gdp204a.htm


--------------------------------------------------------------------------------

New Residential Sales (June)

Decrease 0.8% http://www.census.gov/const/newressales.pdf


--------------------------------------------------------------------------------

Advance Monthly Retail Sales (June)

Decrease 1.1% http://www.census.gov/svsd/www/fullpub.html


--------------------------------------------------------------------------------

[louis-t]

5. "Inventories of manufactured durable goods in June

up seven consecutive months" Exactly, that was my first thought.

[GoldenOldie]

6. Where are all these factories located?????

How come Georgie isn't having photo-ops at all of these factories showing him and the smiling, flag waving employees, thanking him and his administration for thier employment?????

Just what do these "factories," produce????

[louis-t]

9. mostly?

weapons.

[TahitiNut]

10. Inventories increase when sales decrease.

Consumer spending on durable goods is dropping. Thus, inventories (unsold goods) go up. That usually precedes another round of layoffs.

[sandnsea]

8. The Depression

Over-production, uncontrolled credit-buying, uneven distribution of wealth.

Hmmm.

[Catfight]

Clockwork, first day, report of poor ecomony, two days later, altered

report economy is good. This is so boring anymore. Again, a president that doesn't have credibility is worthless.

[JLuckey]

7. When do we get the correction?

And will it get reported.