Durable-Goods Orders Drop 1.3% in May, But Business Investment Picks Up In Reassuring Sign
Wednesday, 26 June 2019 19:48 WIB | ECONOMY |Ekonomi AS
Orders for U.S. durable goods fell in May for the third time in four months, held down by a canceled deal for Boeing™s troubled 737 Max jet. Yet business investment perked up in a somewhat reassuring sign that companies haven™t frozen spending amid a tense trade fight with China and signs of a slower U.S. economy.
Orders for long-lasting goods slid 1.3% last month, the government said Wednesday. Economists polled by MarketWatch had forecast a 1% decline. Orders in April were also weaker than initially reported.
Yet if cars and planes are stripped out, orders actually rose 0.3% in April to break a string of three declines in a row. Transportation often exaggerates the ups and downs in orders because of lumpy demand from one month to the next.
Source : Market Watch
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