Factory orders up 0.8 percent in May
WASHINGTON -- Businesses requested more airplanes, autos and oil drilling equipment in May.
Factory orders rose 0.8 percent in May, the Commerce Department said Tuesday. That followed a downwardly revised drop of 0.9 percent in April. The jump after a sluggish spring suggests supply disruptions stemming from the Japan crisis are fading.
The increase pushed factory orders to $445.3 billion. That's almost 32 percent higher than the low point during the recession, reached in March 2009.
Much of the increase was driven by a 36.5 percent increase in orders for aircraft, a volatile category.
But there were signs of strength in areas that had slowed sharply in the previous month. Auto and auto parts orders rose 2 percent. And a measure of business investment rose 1.6 percent, after falling 0.4 percent the previous month. Companies invested more in computers and equipment. -- AP
LI's highest-paid CEOs ... LI bars adapt to less drinking ... Flag football on rise ... Out East: Jamesport Farm Brewery
LI's highest-paid CEOs ... LI bars adapt to less drinking ... Flag football on rise ... Out East: Jamesport Farm Brewery
