Economic Buzz: US durable goods orders down by 4.5% in May

Durable goods orders in the United States declined by 4.5% in May to reach $332 billion, the US Census Bureau reported on Thursday. The figure marked a sharp fall from April's revised increase of 8.5%.

Transportation equipment led the drop, tumbling 14% to reach $113.5 billion. The new orders, excluding transportation, retreated 1.3%, and excluding defense, weakening 4.6%.

Shipments of manufactured durable goods advanced 1%, reaching $327.9 billion. Unfilled orders of durable goods added 0.6% to $1,569.5 billion.

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