WASHINGTON-- New orders for goods produced at U.S. factories rose in May, according to a recently released government report.

The value of U.S. factory orders increased 2.5 percent in May following a 3.4 percent decline in April, the Commerce Department said. May's rise was the third increase in the last four months.

The data exceeded expectations from Wall Street analysts who on average predicted factory orders would rise 1.2 percent in May.