News Summary: Orders placed with US factories up

News Summary: Orders placed with US factories rose 1.5 percent in June to record high

Associated Press
News Summary: Orders placed with US factories up
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FILE - In this July 1, 2013 file photo, brewer Ken Hermann rolls a fresh keg of beer onto pallets at the Harpoon Brewery in the Seaport District of Boston. The Commerce Department reports on orders placed with U.S. factories in June on Friday, Aug. 2, 2013. (AP Photo/Charles Krupa, File)

TWIN PEAKS: Orders placed with U.S. factories rose 1.5 percent in June as strong demand for airplanes, machinery and autos pushed the economic indicator to a record high for the second consecutive month. Total orders peaked at $496.7 billion.

THE TAKEAWAY: Manufacturing struggled in the early part of this year, held back by weaker global growth and steep government spending cuts. But those trends may be starting to reverse.

WHAT'S HOT/NOT: Demand for oil and gas drilling equipment rose 44.1 percent and transportation products orders rose 12 percent, led by a 32.1 percent for commercial aircraft. But orders for nondurable goods such as chemicals, paper and food fell 0.6 percent.

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