Durable Goods Orders Rise for Fourth-Straight Month
Provided by
Dow Jones
By Ed Frankl
Durable-goods orders in the U.S. inched up in May, rising for the fourth month.
New orders for products meant to last at least three years--such as automobiles, appliances and industrial machinery--increased 0.1% to $283.1 billion, adjusted Commerce Department data showed Thursday. Orders rose 0.2% in April, a downward revision from the originally reported 0.7% rise.
Economists polled by The Wall Street Journal had expected orders to retreat 1.0% on month.
Transportation equipment orders drove the increase, climbing 0.6%, while excluding defense, orders fell 0.2%, the data said.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
June 27, 2024 09:03 ET (13:03 GMT)
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