WASHINGTON - Durable goods orders in May increased 1.9% as auto orders snapped back following a sharp decline in April, the Commerce Department reported Friday.
Orders excluding transportation gained 0.6% and orders of nondefense capital goods, excluding aircraft, rose 1.6%.
Economists expected durable goods orders would increase 1.5% and orders excluding transportation would gain 0.9%, according to the median estimate from Thomson Reuters.
April orders were revised higher to a decline of 2.7% from a 3.6% drop reported last month while orders excluding transportation fell 0.4% compared to the 1.6% drop reported earlier.
Motor vehicle and parts orders increased in May following a strong decline in April. New orders for autos gained 0.6% following a 5.3% drop in April. Total transportation orders increased 5.8% for the month.
Total unfilled orders increased 0.9%, the highest level in eight months.
