Durable Goods Orders Rise Again
Consumers bought more big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.
Orders for manufactured durable goods increased 1.8% to $163.9 billion, the second consecutive monthly increase. Orders have increased during three of the past four months.
Excluding transportation, new orders increased 1.1% and excluding defense, new orders increased 1.4%.
Shipments of manufactured durable goods in May, down 10 consecutive months, decreased 2.1% to $169.9 billion.
Inventories of manufactured durable goods-which have been down for five consecutive months-fell 0.8% to $323.3 billion.