Afternoon Coffee: Factory Orders Fall in June, Federal Government IoT Spending Rises

phatpc/AdobeStock phatpc/AdobeStock

U.S. factory orders fell 1.5% in June, dragged down largely by the drop in orders for durable goods, according to data from the Commerce Department. The decline comes after May factory orders fell 1.2%.

The U.S. federal government reportedly spent $8.8 billion on Internet of Things technology in 2015, 20% more than it did in 2014. Much of the investment went to IoT sensors and data collectors.

Natural gas inventories fell for the first time during summer since 2006. The U.S. Energy Information Administration reported that gas inventories declined 6 billion cubic feet during the week ending July 29.

Rio Tinto reported its worst underlying earnings for the first half of the year in more than a decade. The metal and mining corporation said underlying earnings fell 47% to $1.56 billion in the first six months of 2016, due to factors such as an iron-ore supply glut and fluctuations in metals and bulk commodities prices.

 

SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels

Discuss this:

Your email address will not be published. Required fields are marked *