Durable Goods Orders Decrease Again in May

New orders for manufactured durable goods decreased 1.3% in May to $243.4 billion, following a 2.8% May decrease, according to the U.S. Census Bureau. Declining three of the last four months, Transportation equipment drove the decrease, declining 4.6% to $80.0 billion over the month.

New orders excluding defense fell 0.6% on the month, while orders of nondefense capital goods decreased 4.3% to $70.7 billion.

Shipments of manufactured durable goods, rose 3.9% to $254.1 billion. This followed a decrease in April.

Inventories of manufactured durable goods continued to rise, growing 0.8% to $424.5 billion. This followed a 0.5% April increase.

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Hugo Dante

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.