Bloomberg (06/27/12) Shobhana Chandra
Orders for durable goods climbed more than forecast in May, with bookings rising by 1.1%, according to a U.S. Department of Commerce report released today. The May figure represents the first increase in three months. The median forecast of 76 economists surveyed by Bloomberg News called for a 0.5% gain. May’s gain was led by stronger demand for machinery, defense equipment, and cars. Orders for nondefense capital goods excluding aircraft increased by 1.6% after falling the prior two months, suggesting renewed confidence about the economic recovery.