U.S. durable goods orders rise 2.3% in May
Orders to U.S. factories for big-ticket manufactured goods rose for the 12th time in the last 13 months in May, pulled up by a surge in demand for civilian aircraft
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Orders to U.S. factories for big-ticket manufactured goods rose for the 12th time in the last 13 months in May, pulled up by surgin demand for civilian aircraft.
The Commerce Department said Thursday that orders for durable goods — meant to last at least three years — climbed 2.3% in May, reversing a 0.8% drop in April and coming despite a backlogged supply chain and a shortage of workers. Orders for aircraft shot up 27.4% last month after climbing 31.5% in April. Excluding transportation orders — which can bounce wildly from month to month — durable goods orders rose 0.3% last month, down from a 1.7% gain in April.
A category that tracks business investment — orders for nondefense capital goods excluding aircraft — dipped 0.1% in May after rising 2.7% in April.
American industry is thriving despite problems with backlogged supply chains and a shortage of workers. The Federal Reserve reported earlier this month that factory production climbed 0.9% on surging output of cars, trucks and auto parts. The Institute for Supply Management, an association of purchasing managers, said that its manufacturing index signalled that factories were growing in May for the 12th straight month.