Thursday, July 2, 2009

Orders to U.S. factories jumped in May by the largest amount in nearly a year, further evidence that the nosedive in manufacturing is nearing an end.

The Commerce Department says total orders rose 1.2% in May, better than the 0.8% increase that economists had expected. The April performance was revised slightly lower to a gain of 0.5%, from 0.7%.

The May increase was the best showing since a 2.1% rise last June. The back-to-back increases in April and May were the first consecutive gains in nearly a year.