Factory Orders Rise For Third Straight Month

Orders for goods made in U.S. factories rose for the third straight month in April, the Commerce Department said Tuesday.

Factory orders rose 0.7 percent in the month, matching the gain in the prior month. Shipments jumped by one percent, also the third consecutive gain.

Orders for durable goods rose 0.6 percent, a slowdown from the 0.8 percent gain in March. Orders for nondurable goods rose 0.8 percent, an increase from the prior month’s 0.7 percent gain.

Excluding transportation, orders rise 0.7 percent, up from 0.4 percent in the prior month.

Orders for nondefense capital goods excluding aircraft, considered a proxy for business investment, rose 0.2 percent after falling in the previous month.

Orders of consumer goods jumped 1.2 percent, with durable consumer goods orders rising 2.2 percent and nondurable goods orders rise one percent.