U.S. factory orders fall more than expected on transportation

The Commerce Department said on Thursday new orders for manufactured goods dropped 1.0 percent after a revised 0.7 percent decline in April. Manufacturing, which accounts for about 12 percent of the U.S. economy, is struggling with the lingering effects of a strong dollar and lower crude oil prices, which has squeezed profits of multinational corporations and oil-field firms. In addition, the rout in the energy sector looks close to running it course as crude oil prices recover after falling nea