New orders for manufactured durable goods fell 2.2% to $230.7 billion in May, following a 3.3% April increase, according to the U.S. Census Bureau. The majority of the month’s decrease was driven by a 5.6% decline in new orders for transportation equipment. Excluding transportation, new orders fell 0.3%.
New orders excluding defense decreased 0.9% on the month, as orders of nondefense capital goods fell 0.8% to $68.5 billion, which was partially offset by a 1.0% increase in new orders for nondefense aircraft and parts.
Shipments of manufactured durable goods fell 0.2% in May to $231.7 billion, after a 0.4% April increase.
Inventories of manufactured durable goods fell 0.3% to $382.5 billion, following a 0.4% April decrease. Inventories have now declined for ten of the last eleven months.
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