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Tags: core capital goods | inflation | recession | consumer demand | discretionary spending

Core Capital Goods Orders Increase Solidly in May

Core Capital Goods Orders Increase Solidly in May
A Best Buy customer shopping for a refrigerator at a Best Buy store in San Francisco. (Getty Images)

Monday, 27 June 2022 08:35 AM EDT

New orders for U.S.-made capital goods increased more than expected in May, but rising interest rates and tighter financial conditions could curb further gains.

Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.5% last month, the Commerce Department said on Monday. These so-called core capital goods orders gained 0.3% in April.

Economists polled by Reuters had forecast core capital goods orders rising 0.3%.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
New orders for U.S.-made capital goods increased more than expected in May, but rising interest rates and tighter financial conditions could curb further gains.
core capital goods, inflation, recession, consumer demand, discretionary spending
71
2022-35-27
Monday, 27 June 2022 08:35 AM
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