US May factory orders +1.6% vs +0.5% expected

[mahatmakanejeeves]

Source: forexlive

News

US May factory orders +1.6% vs +0.5% expected
US factory orders and durable goods orders revisions

Adam Button
Tuesday, 05/07/2022 | 09:58 GMT-4

-- Prior was +0.3%
-- Durable goods orders +0.8% vs +0.7% prelim
-- Durable goods orders non-defense ex-air +0.6% vs +0.5% prelim
-- Durables ex transport +0.7% vs +0.7% prelim
-- Factory orders ex-transport +1.7% vs +0.3% prior (revised to +0.6%)

{snip}

Read more: https://www.forexlive.com/news/us-may-factory-orders-16-vs-05-expected-20220705/

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Source:

https://www.census.gov/economic-indicators/#mfg_orders

[BumRushDaShow]

1. Here's a Reuters article

July 5, 2022
10:59 AM EDT
Last Updated 2 hours ago


U.S. factory orders rise more than expected in May
Reuters


July 5 (Reuters) - New orders for U.S.-manufactured goods increased more than expected in May, bucking a slew of recent data showing a softening in the economy and underscoring that demand for products remains strong even as the Federal Reserve aggressively tightens financial conditions.

The Commerce Department said on Tuesday that factory orders rose 1.6% in May after advancing 0.7% in April. Economists polled by Reuters had forecast factory orders would rise 0.5%. Other indicators have shown less resilience.

A survey on Friday showed the Institute for Supply Management's national factory activity index contracted for a second straight month, though an "overwhelming majority" of companies indicated they were hiring. That followed moderate consumer spending growth in May along with weak housing starts, building permits and factory production.

Manufacturing accounts for 12% of the U.S. economy and is being held up by strong demand for goods even as overall spending rotates more toward the services sector. The U.S central bank is seeking to cool demand across the economy as it tries to tamp down high inflation.

(snip)

https://www.reuters.com/markets/us/us-factory-orders-rise-more-than-expected-may-2022-07-05/

[mahatmakanejeeves]

2. I'll see if I can get a news source for the OP. At the time, that stock tout site was all I had.

Or they can lock the thread. I don't care.

Thanks. And good afternoon.

[BumRushDaShow]

3. I think they are really running slow today with the holiday!

And good afternoon! Hope your weekend went well.

[peppertree]

4. "But..but...I thought we were in a recession...and thanks to Brandon!"

[Crowman2009]

5. Consumers and companies are either going electric or are being more efficient with gas vehicles.

I will go electric eventually, but it always helps to avoid going over a minute at idol, stay at the speed limit or go 5 mph less, set the car thermostat to 78F, and plan out errands and purchases in less trips. Not to mention my commute to work is only twenty minutes. That way I only have to go to the gas station once every two weeks.