As per the latest data update on August 2, 2024, U.S. factory orders excluding transportation posted a modest increase in June 2024. The new indicator has risen to 0.1%, compared to a decline of -0.7% recorded in May 2024.
The data reveals a positive shift in month-over-month factory orders, suggesting a slight improvement in the non-transportation manufacturing sector. In May, the sector had faced a considerable drop, but June's figures indicate a stabilization, potentially setting the stage for further growth in the upcoming months.
This recovery, though modest, could be seen as a hopeful sign for the broader U.S. manufacturing landscape, as businesses and investors look to gauge the sustainability of this upturn amidst prevailing economic conditions.
