Consumer goods, such as new cars and heavy machinery, were better than expected in the United States in May, a sign that demand remains strong despite signs of a slowdown.
In particular, orders for durable goods rose 0.7% last month, according to data released by the US Department of Commerce on Monday. This is the seventh increase in a total of eight months.
Economists in a Wall Street Journal poll predicted a smaller increase of 0.2%.
New orders for capital goods moved higher than expected in May.
In particular, capital orders excluding volatile transportation and government military spending, which are considered indicators of business spending plans, rose 0.5 percent last month, according to data released by the US Department of Commerce on Monday.
Orders for basic capital goods rose 0.3% in April.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
