Factory Orders rise by 1.7% in May vs. 1.5% expected
- US Factory Orders rose more than expected in May.
- US Dollar Index holds near 92.50 after the data.
New orders for manufactured goods, Factory Orders, in the US rose by $8.1 billion, or 1.7%, to $495.5 billion in May, the data published by the US Census Bureau showed on Friday. This reading followed April’s contraction of 0.1% and came in slightly higher than the market expectation for an increase of 1.5%.
“Shipments, also up twelve of the last thirteen months, increased $3.3 billion or 0.7%, to $490.4 billion,” the publication further read. “The unfilled orders-to-shipments ratio was 6.95, up from 6.88 in April.”
This report was largely ignored by market participants and the US Dollar Index was last seen trading flat on the day at 92.52.