May factory orders +0.4%, stronger than the.>

US DATA: May factory orders +0.4%, stronger than the -0.1% exp, with 

durable goods orders rev up slightly to -0.4% (prev -0.6%), nondurable 

goods orders +1.1% due to +3.4% for petroleum and coal products. 

- Excluding -1.1% transportation orders, factory orders would have been 

+0.7%, continuing a string of gains and pointing to underlying strength. 

- Nondefense capital goods new orders -1.6%, but +0.3% ex aircraft.    

- Total factory shipments were +0.6% in May, with nondefense capital 

goods shipments +3.3%, but +0.2% ex aircraft.

- Factory inventories +0.2%, so combined with the advance estimates for 

retail (+0.4%) and wholesale inventories (+0.5%), this would result in 

+0.4% for business inventories.