Factory orders fell 1.4% in May — double economists’ estimates — to post their first decline in nine months, the Commerce Department reported Friday.
Processing Content
The drop in factory orders was the largest since March 2009, and exceeded the median forecast in a Thomson Reuters survey of economists, which called for a 0.5% decline. Orders excluding transportation fell 0.6%.
May’s unfilled factory orders increased 0.2%. Durable goods orders excluding transportation rose 1.6%. Manufacturing orders excluding military spending fell 1.4%.
The April gain in factory orders was revised downward to 1.0% from 1.2%. Through the first five months of 2010, Factory orders increased 15.3% over the same period a year ago.
