US durable goods orders fall 1.8% in May

FXStreet (Mumbai) – The data reported by the US commerce department showed today that orders for durable goods in May dropped 1.8% after a downwardly revised 1.5% fall in April. The headline figure was expected to drop 1.0% in May.

Though the headline figure dropped, the orders for non-defense capital goods excluding aircraft, a proxy for future business investment, rose 0.3%. Orders for such goods were projected to rise 0.5%. Bookings for non-military capital goods excluding aircraft rose 0.4% last month after a 0.3% decrease in April.

The drop in the headline figure was largely due to a drop in the volatile aircraft category. Orders for business equipments continued to rise for the second month, which is slightly positive.

The data reported by the US commerce department showed today that orders for durable goods in May dropped 1.8% after a downwardly revised 1.5% fall in April. The headline figure was expected to drop 1.0% in May.

(Market News Provided by FXstreet)