Orders for U.S. Capital Goods Drop 2.2% in May

Washington, D.C., June 24, 2016—The U.S. Department of Commerce announced that the new orders for manufactured durable goods decreased by 2.2% after a forecasted drop of only 0.5. A steep 34% decline in defense aircraft orders has been cited as the main contributor. Orders fell only 0.9% excluding defense.

Inventories of durable goods also fell 0.3%, following a 0.4% decrease in April.