U.S. factory orders rose 1.7% in May, after a revised 0.1% decline in the prior month, the Commerce Department said Friday. The increase was in line with expectations. Factory orders have risen in 12 of the last 13 months.
Durable goods orders rose 2.3% in May, unrevised from last week’s initial estimate. Durable goods orders fell 0.7% in the prior month, the only decline in the last 13 months. Transportation orders led the increase.
Orders for nondurable goods rose 1% in the month after a 0.5% gain in April.
Core factory orders, excluding defense goods and civilian aircraft, rose a revised 0.1% in May, up from the initial estimate of a 0.1% fall. Shipments of core goods rose 1.1%.
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