logo
Plus   Neg
Share
Email

U.S. Durable Goods Orders Rebound More Than Expected In May

After reporting a sharp drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday showing a substantial rebound in durable goods orders in the month of May.

The Commerce Department said durable goods orders spiked by 15.8 percent in May after plunging by a revised 18.1 percent in April.

Economists had expected durable goods orders to surge up by 10.9 percent compared to the 17.7 percent nosedive that had been reported for the previous month.

Excluding a significant rebound in orders for transportation equipment, durable goods orders jumped by 4.0 percent in May after tumbling by 8.2 percent in April. Economists had expected a 2.5 percent increase.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT