Wednesday, July 6, 2005
Orders for manufactured goods increased 2.9 percent in May, led by a big jump in orders for aircraft, according to a government report. Economists had expected a rise of 3 percent, according to Briefing.com
The Commerce Department said orders for manufactured goods totaled $394.1 billion in May, an increase of $11.1 billion. Orders for April were revised down to a 0.7 percent increase.
Orders for durable goods, items expected to last more than three years, led the increase, rising 5.5 percent to $210.7 billion.
This category included transportation, which saw orders jump 21.2 percent due in large part to nondefense aircraft and parts, according to the report.
Orders for non-durable goods increased 0.1 percent to $183.4 billion.
May inventories remained unchanged from a previously reported 0.3 percent increase. This followed a slight April decline.
By: DocMemory
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