US factory orders rise 0.3% in April, less than market estimate

By Ovunc Kutlu

ANKARA (AA) - US factory orders rose 0.3% in April, way less than the market estimate, the Commerce Department said Thursday.

New orders for manufactured goods climbed by $1.8 billion to $533.2 billion, marking its 11th increase in the last 12 months.

While the market expectation was a gain of 0.7%, the March figure was revised to $531.4 billion for a 1.8% increase.

New durable goods orders in April were up for the sixth time in the last seven months, increasing $1.3 billion, or 0.5%, to $265.5 billion.

Durable goods orders posted a 0.7% gain in March.