US durable goods orders exceed expectations in May

​​​​​​​By Mucahithan Avcioglu

ISTANBUL (AA) - US new durable goods orders climbed 16.4% in May, compared to the previous month, higher than forecasts, according to data released Thursday by the Census Bureau.

New orders for manufactured durable goods, which measure the change in the value of new purchase orders placed with manufacturers, rose $48.3 billion to $343.6 billion.

The figure reversed a downwardly revised 6.6% fall in April, and nearly doubled the forecast of a 8.6% increase for May.

The monthly rise in orders was also the largest since July 2014.

Transportation equipment led the rise in May, climbing 48.3%, mostly non-defense aircraft and parts (+230.8%).

Orders also rose significantly for capital goods,+48%, in May.

Excluding transportation, durable goods orders increased 0.5% on a monthly basis.

Excluding defense orders, new orders climbed 15.5% in May.