Orders to U.S. Factories Declined in May More Than Forecast

Orders placed with U.S. factories declined in May more than forecast, a sign that manufacturing may be starting to cool.

Manufacturers are seeing a pause in demand after the industry helped the world’s largest economy emerge from the worst recession since the 1930s. Today’s figures underscore the Federal Reserve’s concerns that the European debt crisis poses a risk to a self-sustaining U.S. recovery.

“Manufacturing has been the star of the economy this year so any signs that conditions are turning would cause some concern,” Joel Naroff, president of Naroff Economic Advisors Inc. in Holland, Pennsylvania, said before the report. “The demand for products is slowing.”

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- Posted: 2010-07-02 20:53:44

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