RTTNews - Orders for manufactured goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Thursday, although the report also showed a continued decrease in shipments.
The report showed that orders for manufactured goods rose 1.2 percent in May following a downwardly revised 0.5 percent increase in April. Economists had expected orders to rise 0.9 percent compared to the 0.7 percent increase originally reported for the previous month.
At the same time, the Commerce Department said shipments of manufactured goods fell 0.9 percent in May, the tenth consecutive monthly decrease. This marks the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992.
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