Factory orders pick up
July 2, 2003,
Washington — The economy keeps chugging ahead like "The Little Engine That Could." Factory orders unexpectedly rose fourth-tenths of a percent in May, pushed by a 1.2 percent gain in non-durable goods, the Commerce Department reported today. The gain follows a revised drop of 3.0 percent in April.
Orders of durable goods fell 0.4 percent, tugged at by a number of sectors including transportation and defense, but helped by stronger sales in computers and consumer electronics.