U.S. factory orders weak, robust auto sales a bright spot

New orders for U.S. manufactured goods slipped 0.4 percent in April after climbing 2.2 percent in March, indicating the manufacturing industry is still feeling the pressure from a strong dollar and restrained spending in energy markets.

Orders for transportation equipment fell 2.4 percent, with other declines in orders for information technology and computer products. The U.S. Department of Commerce reported orders for nondefense capital goods minus aircraft fell 0.3 percent in April contrary to analyst forecasts it would increase one point, according to Reuters.

Separately, auto sales rose to a 10-year, seasonally adjusted high of 17.79 million units last month from 16.5 million in April. Fiat Chrysler Automobiles saw a 4 percent rise in sales, followed by General Motors reporting a 3 percent increase.

Ford Motor Co. saw a 1 percent drop due to a decline in sales of F-series pickup trucks.

Read more from Reuters.[[In-content Ad]]