The U.S. Commerce Department reported on Tuesday that the value of new factory orders rose 0.4 percent m-o-m in July, following an unrevised 1.5 percent m-o-m increase in June.

Economists had forecast a 0.3 percent m-o-m advance.

According to the report, orders for primary metals (3 percent m-o-m) and machinery (+2.9 percent m-o-m) recorded the biggest increases in July. At the same time, orders for transport equipment (-2.1 percent m-o-m) and electrical equipment, appliances and components (-1.7 percent m-o-m) decreased the most.

Total factory orders excluding transportation, a volatile part of the overall reading, went up 0.8 percent m-o-m (compared to an upwardly revised 1.5 percent m-o-m jump in June), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, edged 0.1 percent m-o-m instead of being unchanged as reported last month. The report also showed that shipments of core capital goods rose 0.9 percent m-o-m in July, rather than gaining 1.0 percent m-o-m as previously reported.