U.S. fac­tory or­ders slump 0.8% in May

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - — The As­so­ci­ated Press

WASH­ING­TON — Fac­tory or­ders fell 0.8 per­cent in May, the big­gest drop since Novem­ber, the Com­merce Depart­ment said Wed­nes­day.

They fell 0.3 per­cent in April.

Economists had ex­pected fac­tory or­ders to drop again in May — but the fall was twice what they’d fore­cast.

Ex­clud­ing the volatile trans­porta­tion sec­tor, fac­tory or­ders fell 0.3 per­cent in May. Or­ders for civil­ian air­craft plunged 11.6 per­cent af­ter drop­ping 12.2 per­cent in April. Com­puter or­ders slid 2.1 per­cent

Or­ders rose a mod­est 0.2 per­cent in a cat­e­gory — cap­i­tal goods ex­clud­ing air­craft and mil­i­tary equip­ment — that is closely mon­i­tored for signs of busi­nesses’ in­vest­ment plans.

Amer­i­can man­u­fac­tur­ing has been send­ing mixed sig­nals.

The Fed­eral Re­serve re­ported last month that fac­tory or­ders fell 0.4 in May, re­vers­ing a sharp in­crease in April. The In­sti­tute for Sup­ply Man­age­ment re­ported Mon­day that its man­u­fac­tur­ing in­dex rose last month to the high­est level since Au­gust 2014.

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