U.S. durable goods orders rise 2.3% in May – KIRO 7 News Seattle

WASHINGTON – (AP) – Orders to U.S. factories for large-volume manufactured goods rose for the twelfth time in the past 13 months in May, driven by rising demand for commercial aircraft.

The Commerce Department said Thursday that orders for durable goods – which are supposed to last at least three years – rose 2.3% in May, reversing a 0.8% decline in April, and despite a supply chain backlog and one Lack of manpower came. Airplane orders rose 27.4% last month after rising 31.5% in April. Excluding transport orders – which can vary greatly from month to month – durable goods orders rose 0.3% last month, up from 1.7% in April.

A category that tracks business investment – orders for non-defense capital goods excluding aircraft – fell 0.1% in May, after rising 2.7% in April.

American industry is thriving despite problems with congested supply chains and labor shortages. The Federal Reserve reported earlier this month that factory output rose 0.9% due to rising production of automobiles, trucks and auto parts. The Institute for Supply Management, an association of purchasing managers, said its production index signaled factories growing for the 12th straight month in May.

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