Factory Orders Rise, Hint At Stability In Manufacturing

[Purveyor]

WASHINGTON | Tue Jul 2, 2013 10:22am EDT
(Reuters) - New orders for factory goods rose for a second straight month in May, adding to tentative signs of stabilization in manufacturing after a recent slowdown.

The Commerce Department on Tuesday said new orders for manufactured goods increased 2.1 percent. April's orders were revised to show a 1.3 percent rise instead of the previously reported 1 percent advance.

Economists polled by Reuters had forecast new orders received by factories increasing 2 percent.

Manufacturing slowed in recent months, weighed down by deep government spending cuts and slowing global demand, especially in China and the recession-hit Europe.

However, there are signs the loss of momentum has run its course or is at least starting to ebb.

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http://www.reuters.com/article/2013/07/02/us-usa-economy-idUSBRE95O0S520130702