Factory Orders See a Gain in May

Orders to U.S. factories turned in the slowest performance in three months in May. This was due to a surge in demand for commercial aircraft not being enough to offset the weakness in autos, heavy machinery and steel. In May though, factory orders rose by 0.6 percent. That was less than half the gains turned in during April and March. It was the poorest showing since factory orders had fallen by 0.4 percent in February. The figures for the past three months, according to analysts, have been inflated by big increases in the costs of refined petroleum and related products such as chemicals. Those have been soaring because of the rising cost of global oil prices.