U.S. Manufacturing Sector Regaining Momentum, But Surging Virus Cases Threaten Recovery

• New orders for key U.S.-made capital goods increased by the most in nearly two years in June and shipments accelerated, but the gains were likely insufficient to avert the deepest plunge in business investment and economic activity since the Great Depression in the second quarter because of the COVID-19 crisis.
• Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, jumped 3.3% last month, the Commerce Department said. That was the biggest increase in these so-called core capital goods orders since July 2018 and followed a 1.6% rise in May.
• The improvement in manufacturing reported by the Commerce Department on Monday was driven by pent-up demand following the reopening of businesses.

 (Source: CNBC)