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U.S. Factory Orders Fell More Than Expected in May

July 2, 2014

Forexpros

Factory workers (file photo)
Factory workers (file photo)

Investing.com - U.S. factory orders fell more-than-expected in May, underlining concerns over the U.S. economic outlook, official data showed on Wednesday.

In a report, the U.S. Census Bureau said factory orders dropped by a seasonally adjusted 0.5% in May, worse than forecasts for a 0.3% decline.

Factory orders for April were revised up to a gain of 0.8% from a previously reported increase of 0.7%.

Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.18% to trade at 1.3654.

Meanwhile, U.S. stock markets were modestly higher after the open. The Dow picked up 0.1%, the S&P 500 tacked on 0.1%, while the Nasdaq 100 increased 0.2%.

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U.S. factory orders fall 0.5% in May


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