GOVERNMENT REPORT SERIES
Orders at U.S. factories for long-lasting goods and heavy machinery rose 0.7%, $267.2 billion +0.7%in May, a stronger than expected report. Economists had forecast a 0.2% advance. It was the seventh gain in the last eight months.
Viewed by investors as a signal of future business; factories are still producing a lot of goods despite ongoing supply and labor shortages.
New Orders
New orders for manufactured durable goods in May increased $1.9 billion or 0.7 percent to $267.2 billion, the U.S. Census Bureau announced today. This increase, up seven of the last eight months, followed a 0.4 percent April increase. Excluding transportation, new orders increased 0.7 percent. Excluding defense, new orders increased 0.6 percent. Transportation equipment, up two consecutive months, led the increase, $0.7 billion or 0.8 percent to $87.6 billion.
Shipments
Shipments of manufactured durable goods in May, up twelve of the last thirteen months, increased $3.6 billion or 1.3 percent to $268.4 billion. This followed a 0.3 percent April increase. Transportation equipment, up seven of the last eight months, led the increase, $1.7 billion or 2.1 percent to $84.7 billion.
