Factory orders on upswing in May
Companies placed more orders with U.S. factories in May compared with April, demanding more computers, machinery and other equipment that signal investment plans.
Still, factory orders are down from the start of the year. And more recent data show manufacturing activity shrank in June for the first time in three years, adding to worries that weaker global growth is weighing on the U.S. economy.
Factory orders increased to $469 billion, the Commerce Department said Tuesday. Core capital goods, which include machinery and computers, rose 2.1 percent, showing companies are still making investment plans.