The U.S. Commerce Department reported on Wednesday that the value of new factory orders climbed 6.4 percent m-o-m in July, following a revised 6.4 percent m-o-m surge in June (originally a 6.2 percent m-o-m increase). That marked the third consecutive month of gains in factory orders.

Economists had forecast a 6.0 percent m-o-m increase.

According to the report, orders for transportation equipment jumped 35.7 percent m-o-m in July after a 19.5 percent m-o-m advance in June. Gains also occurred in orders for fabricated metal products (+2.7 percent m-o-m), computers and electronics (+2.6 percent m-o-m), machinery (+2 percent m-o-m).

Total factory orders excluding transportation, a volatile part of the overall reading, rose 2.1 percent m-o-m in July compared to an upwardly revised 4.8 percent m-o-m advance in June (originally a 4.4 percent m-o-m gain).