U.S. Economy: Durable Goods Orders Rise More Than Forecast

Orders for durable goods climbed more than forecast in May, signaling manufacturing may be one of the first areas of the U.S. economy to rebound from a first-half slowdown in growth.

Bookings for equipment meant to last at least three years rose 1.9 percent after a 2.7 percent April drop that was smaller than previously reported, data from Commerce Department showed today in Washington. Revised figures from the agency also confirmed gains in gross domestic product cooled last quarter.