The U.S. Commerce Department reported on Tuesday that the value of new factory orders jumped 6.2 percent m-o-m in June, following a revised 7.7 percent m-o-m surge in May (originally an 8.0 percent m-o-m gain). That marked the second consecutive month of gains in factory orders.

Economists had forecast a 5.0 percent m-o-m increase.

Total factory orders excluding transportation, a volatile part of the overall reading, rose 4.4 percent m-o-m in June compared to an unrevised 2.6 percent m-o-m advance in May.