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7/5, 4:01 PM (Source: TeleTrader)
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US factory orders up 1.6% in May

New orders for manufactured goods in the United States stood at $543.6 billion in May, recording growth of 1.6% on a monthly basis, the US Census Bureau announced in a full report on Tuesday.

Shipments improved by 1.8% to come at $544.4 billion according to the report, while unfilled orders rose by 0.4% or $3.9 billion reaching a total of $1,110 billion.

Inventories amounted to $797.9 billion following the increase of 1.3% in May. The inventories-to-shipments ratio was 1.47, unchanged from April.

Baha Breaking News (BBN) / AB