May U.S. factory orders rise 0.7%
WASHINGTON (MarketWatch) -- Orders for goods produced in U.S. factories rose 0.7% in May, the Commerce Department reported Tuesday. Economists surveyed by MarketWatch had expected orders to rise by 0.1%. Factory orders fell a revised 0.7% in April, compared with a prior estimate of a 0.6% drop. Orders for durable goods -- products meant to last at least three years - rose 1.3% in May. Orders for nondurable goods rose 0.2%.