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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.