Factory Orders Up in April; May Sales Rise
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WASHINGTON — Orders placed with U.S. manufacturers other than airplane makers rose in April and retailers reported an acceleration in May sales, signs that a record peacetime expansion may be picking up speed.
Factory orders rose 0.5% during April when often-volatile demand at Boeing Co. and other aircraft makers is factored out, making it the fifth increase in the last six months, Commerce Department statistics showed Thursday. Overall orders fell 1.2% during the month after declining 0.6% in March.
Sales at chain stores open at least a year rose 6.8% last month, according to Bank of Tokyo-Mitsubishi. Sales at Wal-Mart Stores Inc., the biggest U.S. retailer, rose a larger-than-expected 7.7%. J.C. Penney Co. sales increased 2.2%, the chain’s first gain since November.
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