May Factory Orders Drop 1.0%; Ex-Transportation Up 0.1%

New orders for manufactured goods decreased 1.0% in May, after falling a revised 0.7% in April, first reported as a 0.4% decrease, the Commerce Department reported Thursday.

Economists polled by Thomson Reuters expected orders to drop 0.5%.

Excluding transportation, new orders were unchanged, after a flat reading the previous month. Excluding defense, orders were up 0.1% after a 0.1% decrease in April.

Durable goods orders were 2.2% lower in May after a 1.7% decrease in April, while nondurable goods orders were 0.2% higher in May after a 0.3% increase in April.

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