Orders to U.S. Factories Fall More Than Forecast in Sign Recovery Cooling
bloomberg.com
Orders placed with U.S. factories declined in May more than forecast, a sign that manufacturing may be starting to cool. The 1.4 percent decrease in bookings was the biggest since March 2009 and followed a revised 1 percent gain in April, the Commerce Department said today in Washington. Economists forecast orders would drop 0.5 percent, according to the median projection in a Bloomberg News survey. 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.... Full Story