US factory orders miss expectations in July

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