Factory Orders Rose in April

Washington, DC, June 3, 2009--The Commerce Department said that U.S. factory orders rose 0.7 percent in April, the second increase in three months and is further evidence that manufacturers may be recovering.

Still, the Commerce Department's figure is below analysts' expectations of a 0.9 percent increase. The department also sharply marked down the March figure to a 1.9 percent drop, compared with the 0.9 percent decline previously reported.

Shipments fell 0.2 percent, the ninth consecutive drop, though at a much slower pace than the 1.8 percent fall in March.