Investing.com - Orders for durable goods, which are meant to last at least three years, fell in May, according to data released on Wednesday.
Durable-goods orders fell 0.6% last month, the Commerce Department said. Economists had forecast a 0.9% decrease.
April’s reading was revised to a drop of 1.0%, compared to an initial decline of 1.6%.
Excluding the volatile transportation sector, orders decreased 0.3% in May. That missed expectations for a rise of 0.5%.
April’s reading was revised up to a 1.9% rise from an initial gain of 0.9%.
A key measure of business investment, meanwhile, fell in May. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, fell by 0.3% from a month earlier.
Economists had expected an increase of 0.3%.
