Durable Goods Orders: May 2024

New orders for manufactured durable goods rose to $283.08B in May. This is a 0.1% increase from the previous month and more than the expected -0.5% decline. The series is down 1.5% year-over-year (YoY).

New orders for manufactured durable goods in May, up four consecutive months, increased $0.3 billion or 0.1 percent to $283.1 billion, the U.S. Census Bureau announced today. This followed a 0.2 percent April increase. Excluding transportation, new orders decreased 0.1 percent. Excluding defense, new orders decreased 0.2 percent. Transportation equipment, up three of the last four months, drove the increase, $0.5 billion or 0.6 percent to $95.4 billion.

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Durable Goods

Durable goods refers to tangible products that can be stored or inventoried and that have an average life of at least three years. Durable goods are typically expensive and therefore tend to be purchased when there is confidence in the economy. New orders for durable goods are a leading indicator, meaning when purchases increase it typically hints at an improvement to the economy. On the flip side, when the new orders trend down it is indicating a lack of confidence in the economy.