US factory orders decrease 0.5% in May

By Ovunc Kutlu

ISTANBUL (AA) - US factory orders decreased 0.5% in May, down for the first time after three consecutive monthly increases, according to Commerce Department figures released Tuesday.

New orders for manufactured goods, which measure the change in the value of new purchase orders placed with manufacturers, decreased $3 billion to $583.1 billion.

The figure in April was revised down from an increase of 0.7% to a gain of 0.4% to stand at $586.1 billion.

New orders for manufactured durable goods in May, on the other hand, rose $0.2 billion, or 0.1%, to $282.9 billion – up for four consecutive months.

Transportation equipment, up three of the last four months, led the increase with a gain of $0.4 billion, or 0.5%, to reach $95.3 billion.

New orders for manufactured nondurable goods, however, decreased $3.2 billion, or 1%, to $300.2 billion.