Investing.com -- Goldman Sachs increased its third-quarter GDP tracking estimate to 2.7% from 2.4%, citing stronger-than-expected details in factory orders and trade balance reports released Tuesday.

The investment bank raised its forecast by 0.3 percentage points on a quarter-over-quarter annualized basis. Goldman Sachs maintained its second-quarter GDP tracking estimate at 1.5%.

Job openings fell by 178,000 to 7.359 million in June, according to the Job Openings and Labor Turnover Survey. The figure came in below the median forecast of 7.454 million and Goldman Sachs' estimate of 7.3 million. The May figure was revised down by 57,000 to 7.537 million.

The decline in job openings was primarily driven by the health care sector, which dropped by 147,000 positions. Goldman Sachs attributed this to continued normalization following a large increase in April.

The quits rate remained unchanged at 2.0%, while the layoff rate held steady at 1.1%. The hiring rate increased by 0.1 percentage points to 3.4%.

Factory orders decreased 0.3% in June on a month-over-month basis, missing expectations for an increase of 0.2%. May factory orders were revised up by 0.2 percentage points to a decline of 1.1%.

Factory orders excluding transportation fell 0.4% in June, contrary to expectations for growth. Core capital goods orders growth was revised up by 0.3 percentage points to 1.2%, while core capital goods shipments growth was revised up by 0.1 percentage points to 2.0%.

Goldman Sachs estimated the jobs-workers gap at 0.2 million, which stands 0.8 million below its pre-pandemic level. The estimate incorporates data from JOLTS, Indeed, and LinkUp measures of job openings.