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U.S. Durable Goods Unexpectedly Fall in May

Reuters (06/25/14) Lucia Mutikani

Orders for durable goods declined in May, while a measure of capital spending plans increased. Durable goods orders fell 1.0%, according to the U.S. Department of Commerce, partly due to a decline in orders for defense capital goods. Economists surveyed by Reuters had forecast flat orders for May. Nondefense capital goods orders excluding aircraft, an indicator of potential business spending plans, rose 0.7%. Economists had forecast a rise of 0.5%.