Durable Goods Orders Fall in May
Washington, DC, June 24, 2010--Durable goods orders overall fell in May but excluding transportation orders rose.
Demand for durable goods fell 1.1% last month, the Commerce Department said Thursday. It was the first decline in six months, following April's strong 3% increase.
But without the volatile transportation sector, orders climbed 0.9%. Non-transportation orders in April fell by 0.8 percent.
More companies are investing in costly machinery as the recovery gains strength. As manufacturing continues to surge, companies are growing more confident. They are adding jobs, revving up production and buying more equipment.