Economy

Falling aircraft sales prompt dip in May US durable goods orders

Falling aircraft sales prompt dip in May US durable goods orders

Most of the bad news in the report was concentrated in the volatile civilian and military aircraft categories, where orders plunged.

There were some other positive signs: Orders for new cars rose for the second straight month.

The Commerce Department says orders for durable goods — items meant to last at least three years — slid 1.1 percent in May.

Mahela Jayawardene not eager to coach Team India
Earlier, Virender Sehwag , Tom Moody, Lalchand Rajput, Dodda Ganesh, among others had applied for the same post. However, Jayawardene recently coached IPL 10 champions Mumbai Indians.

Orders for durable goods such as planes and computers fell in May for the second month in a row and registered the biggest drop in six months, suggesting that an early-year surge has faded. The consensus estimate from Bloomberg was -0.4%, but on top of this reading came a revision for April to -0.9% ($230.7 billion) from the preliminary -0.7% reading. That's the fourth gain in five months and a reflection of a stable if subdued business environment.

The report said orders for non-defense capital goods excluding aircraft, a closely watched indicator of business spending, dipped by 0.2 percent in May after rising by 0.2 percent in April.

New orders for big-ticket U.S. manufactured goods fell for the second month in a row in May, recording their biggest drop in six months, the Commerce Department reported Monday. There had been a similar gain in April. Transportation equipment, up following four consecutive monthly decreases, led the increase, $1.5 billion or 1.9% to $78.8 billion.

Mamata Banerjee trying to divert our movement: GJM chief
The indefinite bandh was called after the police raided the premises linked to GJM chief Bimal Gurung on Thursday. The protesters, carrying the body of a GJM activist, black flags and the Tricolour, assembled at the Chowkbazar.

The capital goods sector, which has suffered in recent years due to the falling price of oil, saw sharp declines, with non-defense orders falling 2.4 percent. That suggests the May increase in automotive orders may not be sustained.

Each monthly durable goods report is subject to revision, and there are times that those revisions can be significant.

PM Narendra Modi meets US President Donald Trump with modest expectations
Modi and Trump also have very similar leadership style, said Telangana BJP spokesperson Krishna Saagar Rao in a blog post . He said the External Affairs Ministry is now connected with the poorest of the poor in the country.


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