U.S Factory Orders Unexpectedly Increase by 0.7% in May - 3.7.2012

The U.S Factory Orders increased by 0.7 per cent in May from a revised 0.7 per cent drop in April according to the Department of Commerce, while it was expected by economists to increase in May by only 0.1 per cent. In other words the Factory Orders advanced to 3.3 billion dollars and showing the first increase after two consecutive declines in March and April. On the contrary, the latest rise in the orders for goods produced by U.S factories does not offset the previous falls, since in April fell by 0.7 per cent and in March dropped by 2.1 per cent. These declines are partly explained by weaker demand from Europe due to worsening debt crisis.