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23 Jun 2015
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.
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.