WASHINGTON (AP) — Orders to U.S. factories increased in June, and a key category that reflects business investment plans posted a modest rise. But the gains weren’t robust enough to suggest that the sluggish manufacturing sector is mounting a significant turnaround.
Factory orders advanced 1.8 percent in the month, the Commerce Department reported Tuesday. The jump, however, was fueled by a surge in demand for commercial aircraft, a volatile sector that can swing widely from month to month.
Meanwhile, a key category that serves as a proxy for business investment plans edged up 0.7 percent after declines in April and June.