Factory orders increased in May
Tuesday, July 02, 2013 1:57 PM
Orders placed with U.S. factories rose in May, according to the U.S. Commerce Department, Bloomberg reported. The 2.1 percent gain in bookings followed a revised 1.3 percent advance the prior month, according to a Commerce Department report. The median forecast of 61 economists in a Bloomberg survey called for a 2 percent increase. Demand for capital equipment increased more than the government estimated last week. Sales of motor vehicles, gains in residential construction and a boom in domestic energy production are helping make up for weakness in U.S. export markets, Bloomberg said. Read more.