US durable goods orders rise in May

The US Department of Commerce released data on durable goods orders for May.

Accordingly, orders for durable goods increased by 1.7 percent compared to the previous month and reached $ 288.2 billion in May.

During this period, orders were expected to decrease by 1%.

Orders for durable goods rose 1.2 percent to $283.2 billion in April.

Orders for transportation equipment increased 3.9 percent to $102.6 billion in May. Orders excluding transportation increased by 0.6 percent in the same period, while orders excluding defense increased by 3 percent.

Orders for durable consumer goods, which consist of products with a life span of at least 3 years, are important in terms of providing information on industrial production.