US factory orders increased 0.7 percent in May

Wednesday, July 4, 2012

WASHINGTON (AP) — Companies placed more orders with U.S. factories in May from April, demanding more computers, machinery and other equipment that signal investment plans.

The increase is a welcome sign after two months of declining factory orders. Still, manufacturing has slowed from the start of the year, adding to worries that weaker global growth could weigh on the U.S. economy.

The Commerce Department said Tuesday that factory orders increased 0.7 percent in May.

And core capital goods, such as machinery and computers, rose 2.1 percent. That’s better than the 1.6 percent estimated in a preliminary report a week ago and is a good measure of companies’ plans to invest.

The increase left orders for durable goods at $469 billion, up 43.5 percent from their recession low reached in March 2009. But orders are down 2.5 percent from their post-recession high hit in December.

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Graceful 10 months, 2 weeks ago

Seems AP is behind the times: US manufacturing shows decline in June timesargus.com/article/20120703/BUSINESS03/707039999/1006/BUSINESS

tonto_goldberg 10 months, 2 weeks ago

It's in the article, in the second paragraph. "Still, manufacturing has slowed from the start of the year,"

dokeus6 10 months, 2 weeks ago

More Chicken Little Syndrome happening

JCLifer 10 months, 2 weeks ago

The AP is a horribly biased news provider.

From the Wall Street Journal:

"Vital Signs: Slowing U.S. Manufacturing June 18, 2012 08:41 a.m. Manufacturing output declined 0.4% in May from April, the second drop in three months."

Also from the Wall Street Journal:

"According to the Institute for Supply Management’s closely followed and market-moving report on sentiment among factory purchasing managers, the U.S. manufacturing sector contracted in June for the first time in three years. The new orders index — a crucial gauge of future activity — plunged at a rate that hasn’t been seen since the aftermath of the September 11 terrorist attacks on the Pentagon and World Trade Center. Analysts used words like “plunged” and “awful” to describe the report."

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