Economy
June 25, 2020
Durable Goods Orders Surge in May
Written by Sandy Williams
Orders for durable goods leapt 15.8 percent to $194.4 billion in May after plunging a revised 18.1 percent in April. The increase exceeded expectations and indicates the economy is in recovery, though orders are still well below pre-COVID levels.
Transportation orders surged 80.7 percent, primarily due to a rebound in automotive orders. Motor vehicle and parts orders climbed 28 percent in May after plummeting in March and April. Orders for commercial airlines made some gains after registering negative numbers in the previous two months. New commercial aircraft orders totaled $3.1 billion, while defense aircraft orders climbed 6 percent to $4.2 billion.
