Economy
June 26, 2014
Durable Goods Down 1% in May
Written by Sandy Williams
Durable Goods, a measure of the health of the steel industry and economy, saw new orders fall 1 percent after three months of increases. Shipments, Unfilled Orders, and Inventories all increased 1 percent or less. Capital goods orders for non-defense and defense items decreased in May.
The Commerce Department’s GDP report showed a decline of 2.9 percent in the first quarter, the worst since the recession, although much of the decline was blamed on weather. Combined with the decrease in durable goods, economists are questioning whether economic growth for second quarter will be as strong as expected.
