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U.S. factory orders post larger than expected decline in May

Published 07/02/2015, 10:02 AM
Updated 07/02/2015, 10:02 AM
© Reuters. US factory orders fall more than expected in May

Investing.com - U.S. factory orders fell more than forecast in May, further dampening optimism over the strength of the economy, official figures released on Thursday showed.

The Commerce Department said factory orders fell 1.0% in May, compared to expectations for a 0.5% decline.

April’s figure was revised to a decline of 0.7% from a previously reported decline of 0.4%.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, remained lower at 96.22, from around 96.30 ahead of the report.

U.S. equities remained modestly higher, with the Dow 30 up 0.18%, the S&P 500 up 0.20% and the Nasdaq 100 almost unchanged for the day.

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