U.S. factories saw orders rise by 2.9 percent in May, the best showing in 14 months, with most of the strength reflecting robust demand for airplanes and parts.
The sizable advance came after 0.7 percent increases registered in both March and April, the Commerce Department reported on Tuesday. Excluding orders for airplanes and other transportation equipment, factory orders dipped by 0.1 percent in May. This category saw orders decline by 0.4 percent in April.
