WASHINGTON — U.S. May durable goods orders data were weak, posting unchanged overall but off 0.9% excluding transportation, which was down for the first time in the last three months, and 0.6% lower excluding military orders.
Orders have been in a downtrend since January, mainly due to problems in the transportation sector, but this month’s data reflects broader weakness. Primary metals orders printed down 1.3% and machinery fell 5.3%; both areas had posted sharp gains in April.
Orders for fabricated metals advanced 0.1%, computers posted 2.0% higher, and electrical rose 1.5%.
— Market News International