Durable Goods Orders Higher in May

Washington, DC, June 27, 2012 -- Durable goods orders rose more than expected in May, according to the Commerce Department.

Durable goods orders rose 1.1% after a revised 0.2% decline in April. That was well above economists' forecasts for a 0.4% increase.

Orders were helped by a 2.7% jump in transportation equipment as aircraft bookings picked up and motor vehicles demand increased, though at a slower pace than in the prior month.

Excluding transportation, orders rose 0.4% after dropping 0.6% in April.