US factory orders rise 2.1 percent - Fox 2 News Headlines

US factory orders rise 2.1 percent

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WASHINGTON (AP) -- Orders to U.S. factories rose in May, helped by a third straight month of stronger business investment. The gain suggests manufacturing is picking up after a weak start to the year.
 
The Commerce Department says factory orders rose 2.1 percent last month, mostly because of a big jump in volatile commercial aircraft demand. April's increase was revised higher to 1.3 percent from 1 percent.
 
Businesses also ordered more machinery, computers and household appliances. That helped boost a measure of business investment spending 1.5 percent, the third straight gain and stronger than a preliminary estimate of 1.1 percent. The category excludes volatile aircraft and defense orders.
 
Excluding transportation, orders rose a modest 0.6 percent.

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