Factory Orders increased by 0.4% in July to $349.0 billion, was expected to decrease by 0.6% following the 1.1% increase in May (revised downward from 1.2%).Since July 2008, factory orders have fallen by 19.7%.Excluding transportation, factory orders increased by 2.3% in July and have also decreased by 19.7% over the past 12 months.
The ISM Services Index fell to 46.4 in July from the June reported level of 47 in June, following a reading of44 (from 43.7) in May.The index was expected to show an increase to 48.1.A reading below 50 implies contraction of the non-manufacturing section for the 10th consecutive month.The following industries in the survey reported growth: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Agriculture, Forestry, Fishing & Hunting; Mining; Information; Health Care & Social Assistance; and Retail Trade.10 industries reported contraction: Other Services; Management of Companies & Support Services; Public Administration; Finance & Insurance; Wholesale Trade; Professional, Scientific & Technical Services; Transportation & Warehousing; Construction; Educational Services; and Accommodation & Food Services.
Upcoming Releases
Initial Claims (08/06 at 8:30 AM EST)
Unemployment (08/07 at 8:30 AM EST)
Factory Orders (08/07 at 8:30 AM EST)
Nonfarm Productivity (08/11 at 8:30 AM EST)
Wholesale Inventories (08/11 at 10:00 AM EST)
