US factory orders miss expectations in July

US factory orders fell missed expectations in August, official data showed on Friday.

According to figures released by the Commerce Department, factory orders declined 1.7% in August compared with analysts’ expectations for a 1.3% drop.

Meanwhile, July's figures were downwardly revised to show a 0.2% increase compared with the 0.4% rise that was initially reported.

Excluding the transportation sector, factory orders decline 0.8% compared with a downwardly revised 0.7% drop