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May US Factory New Orders Decline Led by Transportation Orders

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New orders for US factory goods fell by 1.3% in May, compared with expectations for a 2.0% decrease in a survey compiled by Bloomberg and following a revised 5.3% increase in April.

Excluding a 14.0% decline in transportation orders, new orders would have been up 1.9% after a 1.7% increase in April.

Durable goods new orders were unrevised at a 4.5% decline as in the advance estimate and follows a 8.5% increase in April.

Nondurable goods new orders rose by 2.2% after a 1.9% increase in the previous month.

Factory shipments increased by 1.6%, while unfilled orders rose by 0.6%. Factory inventories rose by 0.2%.

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