Economy
June 27, 2018
Durable Goods Orders Surprise with Dip in May
Written by Sandy Williams
Durable goods orders fell unexpectedly in May, for a second consecutive month of decline. Orders for goods expected to last three years or more fell 0.6 percent following a revised 2 percent decline in April, according to the Commerce Department. The May dip should be looked at in relation to the upwardly revised April data, suggesting growth was still moderate for the month.
Core capital goods, orders minus defense and aircraft, dropped 0.2 percent in May, but April data was revised upwardly to an increase of 2.3 percent from 1 percent. Shipments of core capital goods, used to calculate equipment spending for GDP measurement, inched down 0.1 percent after a revised increase of 1.0 percent in May.
