Investing.com - U.S. durable goods orders rose more-than-expected in May, while core orders increased unexpectedly, official data showed on Tuesday.
In a report, the U.S. Commerce Department said that core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 3.6% in May, compared to expectations for a 3% increase.
Core durable goods orders for April rose by a revised 3.6%.
Total durable goods orders, which include transportation items, increased by a seasonally adjusted 0.7% last month, defying expectations for a drop of 0.1%.
Durable goods for April were revised up to a 1.7% gain from a previously reported 1.5% increase.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Orders for core capital goods, a key barometer of private-sector business investment, rose 1.1%, above expectations for a 0.5% gain and after rising 1.2% in April.
Shipments of core capital goods, a category used to calculate quarterly economic growth, climbed 1.7% last month, compared to expectations for a 0.8% gain, after falling 2% in April.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD shedding 0.05% to trade at 1.3114.
Meanwhile, U.S. stock index futures remained higher. The Dow Jones Industrial Average futures pointed to a gain of 0.6% at the open, S&P 500 futures indicated a rise of 0.7%, while the Nasdaq 100 futures signaled a gain of 0.7%.
In a report, the U.S. Commerce Department said that core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 3.6% in May, compared to expectations for a 3% increase.
Core durable goods orders for April rose by a revised 3.6%.
Total durable goods orders, which include transportation items, increased by a seasonally adjusted 0.7% last month, defying expectations for a drop of 0.1%.
Durable goods for April were revised up to a 1.7% gain from a previously reported 1.5% increase.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
Orders for core capital goods, a key barometer of private-sector business investment, rose 1.1%, above expectations for a 0.5% gain and after rising 1.2% in April.
Shipments of core capital goods, a category used to calculate quarterly economic growth, climbed 1.7% last month, compared to expectations for a 0.8% gain, after falling 2% in April.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD shedding 0.05% to trade at 1.3114.
Meanwhile, U.S. stock index futures remained higher. The Dow Jones Industrial Average futures pointed to a gain of 0.6% at the open, S&P 500 futures indicated a rise of 0.7%, while the Nasdaq 100 futures signaled a gain of 0.7%.