Author: Elena Todorova
123jump.com
Last Update: 11:32 AM EDT August 03 2006

A report released by the Commerce Department showed that new orders for manufactured goods rose 1.2% in June following an upwardly revised 1.0% increase in May, missing expectations of an increase by 1.8%. In another report, the Institute for Supply Management said that the pace of growth in the service sector slowed more than economists had expected, with the index falling to 54.8 in July from 57.0 in June.