Thursday, June 24, 2010

Durable Goods Mixed... Reverse of April

The AP reports:

Factory orders for big-ticket manufactured declined in May as demand for commercial aircraft dropped off. But excluding transportation, orders rose as manufacturing continued to help drive the recovery.

Demand for durable goods fell 1.1 percent last month, the Commerce Department said Thursday. It was the first decline in six months, following April's strong 3 percent increase.

But without the volatile transportation sector, orders climbed 0.9 percent. The increase was driven by a 5.6 percent uptick in orders for machinery.
As detailed above, the drop in transportation (led by a 30% drop in non-defense aircraft) led the decline after a 200% spike in April.

Source: Census

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