Durable goods orders reflect the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods.
This is the first release, the advance, and provides an early estimate of durable goods orders. The data for the previous month are usually revised a second time upon the release of the new month’s data.
The advance durable goods orders for May increased $2.3 billion, or 1.1% to $217.2 billion, according to the U.S. Census Bureau. The 1.1% rise comes in above expectations, which were for 0.5% growth.