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Factory Orders Rise in May, Topping Estimates
Topics:Economic Data | Employment | Consumers | Economy (Global) | Economy (U.S.)
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New orders for U.S. manufactured goods jumped 1.2 percent in May, their largest increase in nearly a year, the Commerce Department reported on Thursday, beating analysts' expectations.
Economists polled by Reuters had forecast that factory orders would only gain 0.8 percent. April's gain was revised downward to 0.5 percent from the originally reported 0.7 percent. Nondefense capital goods orders excluding aircraft, considered a measure of manufacturing activity, were up 4.7 percent in May, after falling 3.5 percent in April.
Copyright 2009 Reuters. Click for restrictions.
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