U.S. Durable Goods Orders Up Slightly

U.S. Durable Goods Orders Up Slightly
Reported in Industry Week, with the first increase in three months, new orders for manufactured durable goods in May were up slightly to $213.6 billion, the U.S. Census Bureau said.  Excluding transportation, new orders decreased 0.9%. Excluding defense, new orders decreased 0.6%.

“The May report on new orders for big-ticket manufacturing items reflects the persistent weakness of the current modest manufacturing downturn,” said Cliff Waldman, economist for the Manufacturers Alliance (MAPI).  “Total new orders fell modestly after two relatively strong months.  The industry data continue the pattern of the past two quarters.  Machinery demand has been unusually volatile and the primary metals and fabricated metals products industries, hampered by housing and industrial uncertainty, continue to show volatile and lackluster demand.”