Orders for U.S. Capital Goods Unexpectedly Dropped in May
Source: Bloomberg
June 24, 2016 8:30 AM EDT
Updated on June 24, 2016 9:24 AM EDT
Orders for business equipment unexpectedly fell in May by the most in three months, pointing to weakness in investment even before the likely damage to confidence stemming from U.K. voters decision to leave the European Union.
Key Points
Orders for non-military capital goods excluding aircraft, a proxy for future business investment in items like computers, engines and communications gear, declined 0.7 percent after falling 0.4 percent in April
Shipments of such business equipment, used in calculating gross domestic product, fell 0.5 percent after climbing 0.6 percent
Total bookings for durable goods -- or those meant to last at least three years -- slumped a more-than-expected 2.2 percent (forecast was 0.5 percent drop)
Read more: http://www.bloomberg.com/news/articles/2016-06-24/u-s-capital-goods-orders-unexpectedly-drop-most-in-three-months
Kelvin Mace
(17,469 posts)and we are off over 2% from last year so far.
tonyt53
(5,737 posts)tonyt53
(5,737 posts)That makes a huge dent by itself.
elleng
(131,073 posts)JackRiddler
(24,979 posts)elleng
(131,073 posts)phazed0
(745 posts)Well, seeing as we don't really make hardly any of that....