Factory orders fell 1.4% in May, more than double economists’ estimates and the first decline in nine months, the Commerce Department reported today.
Orders excluding transportation fell 0.6%, the second consecutive monthly decline and durable goods orders dropped 0.6%.
Economists expected factory orders would decrease 0.5% for the month, according to the median estimate from Thomson Reuters.
The drop in factory orders was the largest since March 2009. April’s factory orders were revised to a 1.0% increase from 1.2% previously reported. May’s unfilled orders for factory orders increased 0.2%.
Durable goods orders excluding transportation rose 1.6%, the second increase in three months.
Manufacturing orders excluding defense fell 1.4% and durable goods orders excluding defense fell 0.5%, both the first declines in nine months.
Through the first five months of 2010, Factory orders increased 15.3% over the same period a year ago.
