U.S. factory orders fell in July as aircraft bookings continued their volatile pattern, but the underlying manufacturing sector showed steady demand with orders rising across most industries when transportation equipment is excluded.
New orders for durable goods totaled $302.8 billion in July, down from $311.6 billion in June, the Commerce Department said Monday. The decline followed a 9.4 percent drop in June, reflecting the lumpy nature of large aircraft orders that can swing monthly figures dramatically.
Stripping out the transportation sector, which includes aircraft and motor vehicles, new orders rose 1.1 percent to $201.1 billion in July…
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