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Economic Buzz: US Durable Goods Order Jumps 0.7% In May

Economic Buzz: US Durable Goods Order Jumps 0.7% In May

June 28, 2022 9:06 IST | capital market
New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department. The report showed durable goods orders climbed by 0.7 percent in May after rising by 0.4 percent in April. The bigger than expected increase in durable goods orders came as orders for transportation equipment advanced by 0.8 percent in May after climbing by 0.7 percent. Excluding an advance in orders for transportation equipment, durable goods orders still rose by 0.7 percent in May after edging up by 0.2 percent in April. The report also showed orders for non-defense capital goods excluding aircraft, a key indicator of business spending, increased by 0.5 percent in May after rising by 0.3 percent in April. Powered by Commodity Insights

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