AC

Factory orders up 0.4% in May, vs 0.1% decline expected … CNBC July 03, 2018 at 03:06PM

Factory orders up 0.4% in May, vs 0.1% decline expected … CNBC

 

Factory orders up 0.4% in May, vs 0.1% decline expected

  • Factory orders were expected to drop in May.

  • Waning demand for transportation equipment and machinery weighed on new orders for U.S.-made goods in April.

By Gillian Brassil

Factory orders were expected to lose 0.1 percent in May, further declining after a 0.8 percent drop in April, according to analysts polled by Thomson Reuters.

Waning demand for transportation equipment and machinery weighed on new orders for U.S.-made goods in April, but the underlying trend suggested strong momentum in the manufacturing sector, according to Thomson
Reuters. Still, rising trade tensions raised concerns for costs of raw goods for production means.

Read More: Factory orders up 0.4% in May, vs 0.1% decline expected … CNBC

gbpusd gbp-usd

Categories: AC, dailynews, FC, SGM

Tagged as: ,