The U.S. Commerce Department reported on Tuesday that the value of new factory orders rose 1.5 percent m-o-m in June, following a revised 2.3 percent m-o-m climb in May (originally a 1.7 percent m-o-m gain). 

Economists had forecast a 1.0 percent m-o-m advance.

According to the report, orders for transport equipment (+2.0 percent m-o-m) posted the biggest increase in June. Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, went up 1.4 percent m-o-m in June (compared to an upwardly revised 1.0 percent m-o-m jump in May), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, rose 0.7 percent m-o-m (compared to an upwardly revised 0.6 percent m-o-m advance in the previous month).