Durable goods orders fall more than expected
Jun 23, 2015, 18:00 IST
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Expectations were for headline durable goods orders to fall 1% in May against the prior month, but rise 0.5% when excluding items like transportation and defense orders.
Durable goods orders excluding aircraft and defense orders, or "core" orders, rose 0.4% in May, a bit less than expected.
Excluding defense, orders rose 2.1% in May.
For the first time in 23 months, inventories of durable goods fell 0.2% in May.
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Last month, durable goods orders fell 1%.
More to come ...