U.S. June factory orders up 1.7% on higher prices (by Rex Nutting)

WASHINGTON (MarketWatch) - Orders for U.S.-made factory goods rose 1.7% in June on stronger demand for machinery, metals, and electrical equipment, and on higher prices for petroleum, the Commerce Department reported Monday. The report was stronger than 0.9% gain anticipated by economists surveyed by MarketWatch. Orders in May were revised higher to a 0.9% increase from 0.6%. Orders for durable goods rose 0.8% in June. Shipments and orders for nondurable goods increased 2.5%, largely on higher prices for petroleum, food, plastics, and chemicals.