Durable Goods Fall in May

The government reported that orders for durable goods fell by 1.8% last month.

New orders for durable goods—products such as computers and trucks designed to last at least three years—decreased a seasonally adjusted 1.8% in May from a month earlier, the Commerce Department said

Tuesday. April durable goods orders fell a revised 1.5%, compared with the previously reported 1% decrease.

Economists surveyed by The Wall Street Journal had expected overall orders to fall 1% in May.

Details of the report were mixed, with underlying figures showing gains in some key categories but nothing in the way of a breakout.

“The bottom line is that equipment investment is one of the few expenditure components that isn’t showing signs of a marked rebound in the second quarter,” Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients.

Through the first five months of the year, overall orders are down 2.2% compared to the same period in 2014.

Posted by on June 23rd, 2015 at 9:25 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.