Factory orders +0.4% in July

• July Factory Orders: +0.4% to $508.1B vs. +0.3% consensus and +1.5% prior (revised from +1.7%).
• Shipments +1.6% to $508.5B.
• Unfilled Orders +0.3% to $1,225.6B.
• Inventories +0.5% to $744.4B.
• The inventories-to-shipments ratio was 1.46, down from 1.48 in June.