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US factory orders down by 3.3% in June
New orders for manufactured goods in the United States saw a monthly decline of 3.3% or $19.1 billion to land at $564.2 billion in June, the US Census Bureau said in its report published on Friday. The figure came in lower than analysts predicted. Shipments of manufactured durable goods rose by 1.2% or $3.4 billion to $287.9 billion. Meanwhile, unfilled orders dropped by 1.4% or $19.0 billion to $1,383.9 billion. Inventories decreased by $0.2 billion to $529.3 billion, remaining virtually unchanged compared to the previous month. The inventories-to-shipments ratio went from 1.47 registered in May to 1.46.