U.S. Durable goods orders fell 1.0% month-over-month (m/m) in May, compared to the flat reading that was expected by economists surveyed by Bloomberg, while April's 0.8% gain was unrevised. Moreover, ex-transportation, orders dipped 0.1% m/m in May, versus the forecast of a 0.3% gain, and April's figure was revised higher to a 0.4% increase from an initial rise of 0.1%. However, orders for non-defense capital goods excluding aircraft, considered a proxy for business spending, rose 0.7% m/m last month, compared to the 0.5% increase that was projected, and the 1.2% drop in April was revised to a 1.1% decline.
Source: Schwab
Source: Schwab
