Better stats from manufacturing and services

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Economic statistics released this week show that the number of new orders received by US factories rose slightly in April, and although the US service sector continues to shrink, the rate of shrinkage slowed down a little in May.   The Commerce Department reported Wednesday that orders to US factories rose 0.7 percent in April, the second increase in three months, although the increase was below analysts' expectations.   Separate figures released today by the Institute for Supply Management showed that the service sector, although still shrinking, did so last month at its slowest rate since October.   The ISM services index rose marginally to 44 in May from 43.7 in April, again a smaller increase than had been expected. A figure above 50 denotes growth, while one below 50 indicates that the sector is contracting.   The real estate, retail and food services sectors all recorded growth in May, however.   The ISM, a Tempe, Arizona-based trade group, also released its index of factory activity this week, which rose to 42.8 in May from 40.1 in April.   Meanwhile, Federal Reserve Chairman Ben Bernanke said Wednesday that he expected the economy to begin growing later this year, but the improvement will be slow.   "We expect that the recovery will only gradually gain momentum," he said. "Businesses are likely to be cautious about hiring, and the unemployment rate is likely to rise for a time, even after economic growth resumes."   *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *