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Durable Goods Orders Hold Steady

The U.S. Department of Commerce reported today that orders for durable goods - manufactured products intended to last three or more years - remained virtually unchanged for the month of May after two straight months of decreases, including a revised figure for April of a 1 percent decrease. According to the report, the transportation sector rose 2.6 percent, with demand for commercial aircraft up 10.3 percent and orders for military planes and parts up 14.9 percent; at the same time, orders for motor vehicles dropped 3.3 percent. Outside of transportation, overall orders dropped 0.9 percent, with orders for computers up 10 percent, electronic equipment up 2 percent, heavy machinery orders down 5.3 percent and primary metals, including steel, down 1.3 percent.

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