US factory orders and car sales up while retail sales growth slows

American factory orders jumped above expectations in May, according to data released by the Commerce Department yesterday. New orders for manufactured goods climbed 0.7 per cent, well above the consensus forecast of 0.2 per cent. This came as car sales climbed to an annualised rate of 14.5m, based on generous incentives and a slide in petrol prices. Retail sales were up 1.7 per cent on the same week last year, which is the lowest increase in almost 15 months.