ORDERS UP: Orders to U.S. factories increased 0.7 percent in May, the first increase after two months of declines.
CORE GOODS: Core capital goods, which serve as a proxy for business investment, increased 2.1 percent in May. That’s better than the 1.6 percent estimated last week and showed that companies are still making investment plans.
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OUTLOOK: Factory orders remain down 2.5 percent, however, from a post-recession high reached in December, and other data shows manufacturing activity shrank in June for the first time in three years. That adds to worries that weaker global growth is weighing on the U.S. economy.
