Ankara: US factory orders fell 4.8% month-on-month in June, less than market expectations, according to official data released Monday. The value of orders in June totaled $611.7 billion, as reported by the US Census Bureau.

According to Anadolu Agency, the May figure for factory orders was revised upward to 8.3% from a previous estimate of 8.2%. The expectation for June was a month-on-month decline of 4.9%, which was slightly more than the actual reported decrease.

Shipments, which had been on the rise for the past two months, increased by $2.9 billion, or 0.5%, reaching a total of $602.4 billion. Unfilled orders continued their upward trend, climbing for the 11th time in the last 12 months. They rose by $14.3 billion in June, or 1%, bringing the total to $1.47 trillion.

Inventories saw an increase for the eighth time in the past nine months, rising by $1.6 billion, or 0.2%, to $945.6 billion. The inventories-to-shipments ratio remained unchanged from May, standing at 1.57.

Factory orders are considered a key indicator for assessing the near future performance of the industrial sector, which holds significant importance in the US economy.