New orders for durable goods rose $48.3 billion, or 16.4%, to $343.6 billion in May, according to a report released by the U.S. Census Bureau just moments ago. This figure exceeded market expectations of an 8.6% increase. Core orders, excluding transportation orders, rose 0.5% in May, compared to a 0.2% increase in April (expectations were 0.1%).
In detail, new orders excluding defense increased by 15.5%, with transportation equipment orders leading the increase, rising 48.3%, or $47.4 billion, to $145.4 billion.