June factory orders +0.7%, higher than the..>

US DATA: June factory orders +0.7%, higher than the +0.4% exp, with 

durable goods orders rev down slightly to +0.8% (prev +1.0%), 

nondurable goods orders +0.5% due to +0.8% for chemical products. 

- Excluding +2.1% transportation orders, factory orders would have been 

+0.4%, continuing a string of gains and pointing to underlying strength. 

Durables ex. trans. were revised down to +0.2% from +0.4% in the 

advanced estimate.

 - Nondefense capital goods new orders +1.9%, but +0.2% ex aircraft.    

- Total factory shipments were +1.0% in June, with nondefense capital 

goods shipments +2.0%, but +0.7% ex aircraft.

- Factory inventories +0.1%, so combined with the flat advance 

estimates for retail and wholesale, this would result in +0.1% for 

business inventories.