US Durable Goods Orders Decline 4.5% in May as Expected

The US Census Bureau reported Thursday that Durable Goods Orders decreased by 4.5% month-over-month in May to $332.1 billion, a drop of $15.6 billion. This decline followed a revised 8.5% increase in April and matched market expectations.

The data point to softening demand for long-lasting manufactured goods, though the April surge had set a high bar. The reading was widely anticipated by economists and did not introduce major surprises for financial markets.