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US Factory Orders Grow for 3 Straight Months

The US Commerce Department reported that US factory orders in April grew 0.7%. 

Forecast was 0.6%.

March's reading was revised up from 1.1% to 1.5%.

The durable goods component rose 0.6%, while orders for nondurable goods grew 0.7%.

This was a relatively positive report for April, making it 3 straight months of growth after a couple of down months. 


(source: tradingeconomics.com)

Factory orders have been up and down since 2010. If growth can be more persistent, it might add to the overall picture of a healthier economy, which nudges the FOMC to raise rates sooner rather than later in 2015.