US factory orders choke in June

US factory orders have grown by just 1.5 per cent in June, behind analyst estimates of a 2.3 per cent increase.

Last month saw orders up 3.0 per cent (revised up from 2.1 per cent) so there's still some good news in the latest data.

Regardless, while economists had been hoping for an acceleration from that unrevised figure, we've got a slowdown instead.

Non durable orders dropped by 0.6 per cent, with durable orders up 3.9 per cent.