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Factory orders gained 0.6 percent or $2.8 billion to $448.7 billion, reaching the highest level since 1992, the government said.

Factory shipments, unfilled orders and the unfilled orders-to-shipments ration also reached their highest levels since 1992, the report said.

Factory shipments rose 0.1 percent or $0.3 billion to $446.4 billion. Unfilled orders rose 0.9 percent or $7.1 billion to $81`0.1 billion, while the unfilled orders-to-shipments ration reached 5.32, up from 5.27 in April.

Durable goods orders involving goods expected to last three years or more, "increased slightly" to $213.5 billion, while non-durable goods increased 1.2 percent to $235.1 billion.

Inventories of durable and non-durable good both increased, up 0.4 percent to $330.3 billion and 0.6 percent to $218.1 billion, respectively.

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