Prior -1.6%; revised to -1.7%
Even if you exclude large orders, industrial orders were seen up 3.3% compared to May. That’s a positive development for the manufacturing sector, although it’s not really showing up on the hard data. That considering that the previous months have been relatively poor to be fair. Looking at the details, the boost owes much to a spike in domestic orders (+9.1%) while foreign orders (+0.4%) were more subdued.
This article was written by Justin Low at www.forexlive.com.
