Economic Buzz: US Factory Orders Climb 0.7% In June

US factory orders climbed by 0.7 percent in June after rising by an unrevised 0.4 percent in May, report released by the Commerce Department showed on Thursday. The Commerce Department said orders for durable goods rebounded after two consecutive monthly decreases, advancing by 0.8 percent in June after falling by 0.3 percent in May. The increase in durable goods orders was downwardly revised from the previously reported 1.0 percent jump. Orders for non-durable goods also increased by 0.5 percent in June after surging up by 1.1 percent in the previous month.