New orders for manufactured durable goods in May decreased $2.5 billion or 1.1% to $228.2 billion, the U.S. Department of Commerce announced. This decrease, down two consecutive months, followed a 0.9% April decrease. Excluding transportation, new orders increased 0.1%. Excluding defense, new orders decreased 0.6%. Transportation equipment, also down two consecutive months, drove the decrease, $2.7 billion or 3.4% to $75.4 billion.
“Demand for long-lasting U.S. factory goods fell by the most in 18 months, and a key category that tracks business investment also slipped, evidence that manufacturing output is barely growing,” the Associated Press reports.