U.S. factory orders up 1.2% in April

Orders for U.S.-made factory goods increased a seasonally adjusted 1.2% in April, led by a tripling in orders for civilian airplanes and parts, the Commerce Department estimated Thursday. Excluding transportation goods, orders fell 0.5%. Shipments rose 0.6%. Orders for core capital equipment goods fell 2.6% after rising 6.7% in March. Inventories declined 0.2%. The inventory-to-sales ratio remained at 1.24, the lowest since July 2008 and a sign that inventories may be too low. Economists surveyed by MarketWatch were expecting factory orders to rise 1.8%. March orders were revised higher to a 1.7% gain from 1.1% earlier.

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- Posted: 2010-06-03 10:30:21

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