New orders for manufactured goods in
May, up three of the last four months, increased 0.7% to $399.9
billion, the U.S.
Census Bureau reported. This followed a 2.0% plunge in April.
The gain was significantly better than the 0.1 percent increase
analysts had been expecting.
New orders for manufactured durable
goods in May decreased 0.2% to $208.8 billion, following a 4.7%
decrease in April. New orders for manufactured nondurable
goods increased 1.6% to $191.1 billion.
New orders for primary metals such
as steel rose by 4.6% in May while orders for machinery were up 2.5%.
However orders for computers and other electronic products dropped