Orders for U.S. durable goods fell in May for the third time in four months, held down by a canceled deal for Boeing’s troubled 737 Max jet. Yet business investment perked up in a somewhat reassuring sign that companies haven’t frozen spending amid a tense trade fight with China and signs of a slower U.S. economy.
Orders for long-lasting goods slid 1.3% last month, the government said Wednesday. Economists polled by MarketWatch had forecast a 1% decline. Orders in April were also weaker than initially reported.
Yet if cars and planes are stripped out, orders actually rose 0.3% in April to break a string of three declines in a row. Transportation often exaggerates the ups and downs in orders because of lumpy demand from one month to the next.
Source : Market Watch