Orders to U.S. Factories Rise for First Time in Three Months
This article is for subscribers only.
Orders placed with U.S. factories rose in May for the first time in three months, easing concern that manufacturing is faltering. Auto sales for June also exceeded analysts’ estimates.
The 0.7 percent increase in bookings followed a revised 0.7 percent drop in the prior month, the Commerce Department said today in Washington. The median forecast of economists in a Bloomberg News survey called for a rise to 0.1 percent.