New orders for manufactured durable goods increased $48.3 million or 16.4% in May to $343.6 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 6.6% April decrease. Excluding transportation, new orders increased 0.5%. Excluding defense, new orders increased 15.5%. Transportation equipment led the increase, $47.4 billion or 48.3% to $145.4 billion.
Banking agencies expand bank eligibility for extended exam schedule
The federal banking agencies announced they are raising the asset threshold that certain banks must fall under to qualify for an extended 18-month examination schedule rather than a 12-month schedule.
