Factory Orders Up More Than Anticipated

Washington, DC, July 3, 3012 -- U.S. factory orders rose more than expected in May, according to the Commerce Department.

The government said on Tuesday that new orders for manufactured goods rose 0.7% during the month.

Economists had forecast orders rising 0.2%.

The report showed broad gains as new orders outside transportation rose 0.4%, with machinery up 4.2% and orders for household appliances up 2.0%.