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Orders for durable goods fall in May

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Orders for durable goods fall in May

Decrease of 1.0% misses estimates.

New orders for durable goods unexpectedly decreased 1.0% in May, the U.S. Census Bureau announced today. The decrease follows April’s increase of 0.8%.  

Analysts had expected orders to remain flat.

Non-defense capital goods orders excluding aircraft, often called “core” capital goods, increased 0.7% during the month, following a revised decrease in April of 1.1%. Economists had expected an increase in orders of 0.5%.

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The results for May, along with today’s sharp downward revision of Q1 GDP contraction to 2.9%, cloud the outlook for growth in coming months.

 

 

 

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