20 Ocak 2017 Cuma Breaking News             Latest US News            New York

Meet 'Bridges,' a computer that beats you at poker while decoding your genome
CaptionCloseWASHINGTON (AP) — Orders at U.S. factories dipped in May, dragged down by less demand for steel, aluminum, furniture, electrical appliances and military aircraft.The Commerce Department said Tuesday that factory orders fell 1 percent in...

US factory orders drop in May; military spending plunges

CaptionCloseWASHINGTON (AP) — Orders at U.S. factories dipped in May, dragged down by less demand for steel, aluminum, furniture, electrical appliances and military aircraft.The Commerce Department said Tuesday that factory orders fell 1 percent in...

US factory orders drop in May; military spending plunges

Caption

Close

WASHINGTON (AP) — Orders at U.S. factories dipped in May, dragged down by less demand for steel, aluminum, furniture, electrical appliances and military aircraft.

The Commerce Department said Tuesday that factory orders fell 1 percent in May, after gains in the two prior months. So far this year, orders for manufactured goods have dropped 1.9 percent to $2.2 trillion compared to the same period in 2015.

The decline suggests that U.S. manufacturers have yet to fully recover from the sting of weaker economic growth worldwide. Measures of factory activity increasingly look mixed, with some still showing the pain caused earlier this year by a stronger dollar hurting exports and lower oil prices leading to cutbacks in orders for equipment and pipelines.

Demand in a category that serves as a proxy for business investment —non-military goods that exclude the volatile aircraft category_slipped 0.4 percent in May.

Orders for military aircraft, a volatile category, plummeted 35.3 percent in May. The decline was compounded by drops in demand for military communications and navigation equipment. Demand for primary metals such as iron, steel and aluminum fell 1.8 percent. Orders for electrical appliance and furniture also tailed off.

Offsetting some of those declines was slightly greater demand for motor vehicles and machinery.

This hazy outlook for manufacturing may turn even hazier in the coming months, as European nations grapple with the vote two weeks ago by British voters to exit the European Union. The decision to leave has rattled financial markets around and fueled expectations that global economic growth could further deteriorate.

Not all manufacturing indicators have been negative.

The Institute for Supply Management's manufacturing index showed activity has been rising for four straight months. The index reached 53.2 in June. Anything above 50 signals growth.

But other indicators show that U.S. manufacturing continues to struggle, limiting the ability of the U.S. economy to expand faster. Until last month, the employment component of the ISM's index had indicated that factories were shedding workers. Since January, manufacturers have let go of 53,000, according to the Labor Department.

Similarly, the Federal Reserve's measure of manufacturing output slipped 0.4 percent in May, as auto plants' production fell.

Orders to U.S. factories for long-lasting manufactured goods also dropped in May. The Commerce Department said last week that demand for durable goods slid 2.2 percent last month after rising 3.3 percent in April and 2 percent in March.

Our editors found this article on this site using Google and regenerated it for our readers.

Breaking News Headlines

Michael Keaton is ‘having a ball’ playing McDonald’s founder Ray Kroc in The Founder | Toronto Star
Michael Keaton is ‘having a ball’ playing McDonald’s founder Ray Kroc in The Founder | Toronto Star
The five sickest action scenes from Vin Diesel’s new ‘xXx’
The five sickest action scenes from Vin Diesel’s new ‘xXx’
‘Lethal Weapon’ Spoilers: ‘American Idol’ Alum Aubrey Cleland To Play RJ’s Girlfriend In Episode 13?
‘Lethal Weapon’ Spoilers: ‘American Idol’ Alum Aubrey Cleland To Play RJ’s Girlfriend In Episode 13?
‘Suits’ Star Patrick J. Adams Reveals Why Directing Season 6, Episode 11 Felt ‘Strange’
‘Suits’ Star Patrick J. Adams Reveals Why Directing Season 6, Episode 11 Felt ‘Strange’
21 Savage Talks About His Obsession With Kylie Jenner: ‘She Shot Me Down’
21 Savage Talks About His Obsession With Kylie Jenner: ‘She Shot Me Down’
Samsung to announce cause of Galaxy Note 7 fire on Jan. 23
Samsung to announce cause of Galaxy Note 7 fire on Jan. 23
'Legend Of Zelda: Breath Of The Wild' Will Be The Last First-Party Game For Wii U
'Legend Of Zelda: Breath Of The Wild' Will Be The Last First-Party Game For Wii U
Rain forces North Coast vineyard workers to hustle on pruning duties
Rain forces North Coast vineyard workers to hustle on pruning duties
Miguel Ferrer, star of 'RoboCop' and 'Twin Peaks,' dies at 61
Miguel Ferrer, star of 'RoboCop' and 'Twin Peaks,' dies at 61
Auguste Rodin exhibit, 'Rent,' ballet and more: Arts Best Bets Jan 20-26
Auguste Rodin exhibit, 'Rent,' ballet and more: Arts Best Bets Jan 20-26
Twitter Reportedly Testing New Layout With Timeline-Like Format For Moments
Twitter Reportedly Testing New Layout With Timeline-Like Format For Moments
Rare photo of Frederic Chopin probably found | Toronto Star
Rare photo of Frederic Chopin probably found  | Toronto Star
NEWS ARCHIVES