July factory orders stronger than expected

WASHINGTON - New orders at U.S. factories jumped by a bigger-than-expected 1.3 percent in July, helped by a rise in transportation orders, a Commerce Department report showed on Wednesday. Economists polled by Reuters were expecting factory orders to gain 1 percent in the month. June's increase was revised up to a 2.1 percent gain from 1.7 percent.

Factory orders have risen for five months in a row.

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