Factory Orders Decline in April

Washington, DC, June 4, 2012 -- Orders for manufactured goods unexpectedly fell in April for a second month, according to the Commerce Department.

Bookings dropped 0.6% after a revised 2.1% decrease in March, the first back-to-back declines in more than three years.

Economists had expected a 0.2% gain.

Excluding transportation equipment, factory orders fell 1.1% in April after a 0.7% decrease the prior month.