Manufacturing Continues To Expand in May

Washington, DC, July 5, 2011 -- U.S. factory orders rose in May, the Commerce Department said Tuesday.

Orders for manufactured goods climbed by 0.8% from April to $445.29 billion.

The increase was broad-based, with gains in a variety of industries. However, economists had forecast a 1.0% rise in overall factory orders.

Capital investment on equipment by U.S. businesses went up strongly, the report indicated.

May orders rose for motor vehicles, machinery, metals, computers, electrical equipment, and aircraft and parts

The transportation sector was responsible for much of the increase in factory orders in May. Excluding transportation, factory orders rose 0.2% a second straight month.