US durable goods orders rise in May above estimate

By Ovunc Kutlu

ANKARA (AA) – US durable goods orders rose in May above the market estimate, according to official data released on Monday.

New orders for manufactured durable goods rose $1.9 billion, or 0.7%, to $267.2 billion last month, the US Commerce Department's Census Bureau said in a report.

The rise, which marks the seventh increase in the last eight months, follows a 0.4% gain in April.

The market estimate for the figure was a 0.1% increase in May.

Transportation equipment was up for the second consecutive month, leading the gain in durable goods, with a $0.7 billion, or 0.8%, increase that reached $87.6 billion last month.

"Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 0.6%," the report said.