New orders for U.S. manufactured durable goods unexpectedly showed another steep drop in the month of May, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said durable goods orders slumped by 1.3 percent in May after tumbling by a revised 2.8 percent in April.
The continued decrease surprised economists, who had expected durable goods orders to rise by 0.2 percent compared to the 2.1 percent drop originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.