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Durable Goods Orders in May 2022

Durable Goods

Durable goods were up in May, however there are signs that are showing they may be down in the upcoming Report for June.

U.S. factory orders rose 0.7% in May, surprising analysts, who expected a much smaller increase or even a decline, Nathan writes.

That included a 1.1% increase in machinery orders and a 2% increase in communications equipment.

Why it matters: It “showed manufacturers still had plenty of demand for their products even amid signs the economy was slowing,” MarketWatch reported.Yes, but: More recent data suggests June’s numbers could be a different story. An index of buying conditions for household durable goods from the University of Michigan survey fell to a record low this month.

Axios Closer By Hope King and Nathan Bomey · Jun 27, 2022