US factory orders up, rise in unfilled orders largest in five months

[WASHINGTON] New orders for US factory goods rose for a third straight month in April, pointing to strength in manufacturing and the broader economy.

The Commerce Department said yesterday that new orders for manufactured goods increased 0.7 per cent. March's orders were revised to show a 1.5 per cent increase instead of the previously reported 0.9 per cent rise.

Economists polled by Reuters had forecast new orders received by factories gaining 0.5 per cent.