Orders for US Business Equipment Increase for a Second Month
- Nondefense capital goods orders less aircraft rose 0.7% in May
- Total durables bookings climbed 1.7%, led by transportation
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Orders placed with US factories for business equipment rose in May for a second month, indicating companies continue to make longer-term investments despite high borrowing costs and economic uncertainty.
The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, increased 0.7% last month after a downwardly revised 0.6% gain in April, Commerce Department figures showed Tuesday. The data aren’t adjusted for inflation.