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Factory orders rise in May
Increase of 2.9% is close to economists' estimates; jump in aircraft orders credited.
July 5, 2005: 10:57 AM EDT

NEW YORK (CNN/Money) - Orders for manufactured goods increased 2.9 percent in May, led by a big jump in orders for aircraft, according to a government report Tuesday.

Economists had expected a rise of 3 percent, according to Briefing.com

The Commerce Department said orders for manufactured goods totaled $394.1 billion in May, an increase of $11.1 billion

Orders for April were revised down to a 0.7 percent increase.

Orders for durable goods -- items expected to last more than three years -- led the increase, rising 5.5 percent to $210.7 billion.

This category included transportation, which saw orders jump 21.2 percent due in large part to nondefense aircraft and parts, according to the report.

Orders for non-durable goods increased 0.1 percent to $183.4 billion.

May inventories remained unchanged from a previously reported 0.3 percent increase. This followed a slight April decline.

Consumer confidence climbs in June. Click here.  Top of page

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