Factory orders increase 0.7% to $469B in month

7/4/2012

WASHINGTON -- Factory orders increased 0.7 percent to $469 billion in May from April, the Commerce Department said Tuesday.

Core capital goods, which include machinery and computers, rose 2.1 percent. That's better than the 1.6 percent estimated in a preliminary report a week ago and shows companies are still making investment plans.

Orders for long-lasting durable goods, ranging from airplanes to refrigerators, rose 1.3 percent. Orders for nondurable goods, which include food, paper, chemicals and energy products, edged up 0.2 percent.

But orders have fallen 2.5 percent since the start of the year from their post-recession high reached in December.