U.S. ECONOMICS: Factory Orders Rise with Upside Revisions
U.S. factory orders increased 0.7% in April from a revised 1.5% March gain (was 1.3%). The 0.8% durable orders gain was revised to 0.6%. Transportation orders rose 1.4%, and excluding transportation, orders were up 0.5% versus 0.8% previously (revised from 0.4%).
Non-defense capital goods orders excluding aircraft fell 1.2% after a 4.7% March surge. April shipments edged up 0.3% after a 0.4% March gain (revised from -0.1%). Inventories rose 0.4% versus a 0.2% March gain (revised from unchanged). The inventory-shipment ratio was steady at 1.30.
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