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US factory orders fall; core capital goods orders revised up

Factory goods orders dropped 0.8 per cent, said the Commerce Department

Reuters  |  Washington 

New orders for US-made goods fell more than expected in May, but orders for capital equipment were a bit stronger than previously reported, suggesting the manufacturing sector remained on a moderate growth path. Factory goods orders dropped 0.8 per cent, the Commerce Department said on Wednesday after a revised 0.3 per cent decline in April. It was the second straight monthly decrease in orders. Economists polled by Reuters had forecast factory orders falling 0.5 per cent in May after a previously reported 0.2 per cent drop in April. Factory orders were up 4.8 per cent from a ...

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First Published: Wed, July 05 2017. 23:20 IST