(Reuters) - New orders
for U.S. factory goods rose for a third straight month in April, pointing to
strength in manufacturing and the broader economy.
Commerce Department said on Tuesday new orders for manufactured goods increased
0.7 percent. March's orders were revised to show a 1.5 percent increase instead
of the previously reported 0.9 percent rise.
polled by Reuters had forecast new orders received by factories gaining 0.5
is growing after moderating a bit during a very cold winter. It is likely to
continue expanding, with a survey on Monday showing new orders at the nation's
factories at their highest level in five months in May.
are also starting to rebuild inventories after hunkering down in the first
quarter as they worked through piles of stocks accumulated in the second half
orders report showed inventories rose 0.4 percent in April, while shipments
rose for a third consecutive month. The inventories-to-shipments ratio was
unchanged at 1.30. Orders excluding the volatile transportation category increased
0.5 percent in April as bookings for primary metals, electrical equipment, appliances and components and capital goods rose.
That was the third straight month of gains.
orders at factories increased 0.9 percent, the largest gain since November.
Order backlogs have increased in 12 of the last 13 months.
department also said orders for durable goods, manufactured products expected
to last three years and more, rose 0.6 percent instead of the 0.8 percent gain
reported last month.
goods orders excluding transportation increased 0.3 percent instead of the
previously reported 0.1 percent gain.
non-defense capital goods excluding aircraft - seen as a measure of business confidence
and spending plans - fell 1.2 percent as reported last month.
for the original article from Reuters.