Factory Orders in U.S. Increased Less Than Forecast in April
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Orders placed with U.S. factories rose less than forecast in April as demand for non-durable goods dropped, probably reflecting lower fuel costs.
The 1 percent increase in bookings followed a revised 4.7 percent decline the prior month, the Commerce Department reported today in Washington. The median forecast of 61 economists in a Bloomberg survey predicted orders would climb by 1.5 percent. Demand for durable goods, those meant to last at least three years, rose 3.5 percent, while that for non-durables decreased 1 percent.