May Factory Orders Drop 0.5%; Ex-Transportation Off 0.1%

New orders for manufactured goods slipped 0.5% in May, after climbing a revised 0.8% in April, originally reported as a 0.7% increase, the Commerce Department reported Wednesday.

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Economists polled by Thomson Reuters expected a 0.2% decrease in May orders.

Excluding transportation, new orders decreased 0.1% in May, after gaining a revised 0.6% the previous month, first reported as a 0.5% rise. Excluding defense, orders grew 0.2%, after a flat April.

Durable goods orders fell 0.9% after a 0.9% increase in April, while nondurable goods orders slid 0.2% after a 0.7% rise in April.


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