Economy
June 26, 2016
May Durable Goods Orders Weaker than Expected
Written by Sandy Williams
New orders for manufactured durable goods fell 2.2 percent in May to $230.7 billion after a revised gain of 3.3 percent in April, according to the U.S. Commerce Department.
A Wall Street Journal survey of economists forecast a 0.4 percent drop while Bloomberg predicted a decline of 0.5 percent. May’s decline was broad-based across almost every category with transportation equipment orders leading with a tumble of 5.6 percent.
