27 June 2001, 12:56 U.S. May durable goods orders jumped 2.9%
reflecting gains
across all broad categories, and pointing to economic recovery in the
factory sector. Excluding transportation, orders rose 2.7% after two
months of decline, reflecting surges in primary metals and
semiconductors orders which are key building blocks for the new economy.
Semiconductors orders posted an astounding 35.3% hike that drove the
"Computers & electronic products" category up 2.7% even as computers
orders and communications equipment orders fell. Factory shipments rose
3.1% in May, their second gain in three months. Non-defense capital
goods orders gained 0.9%, and NDCG shipments were up 2.0%, suggesting
business investment is rising. Real nonresidential fixed investment was
up 2.1% in Q1, a pace that will be difficult to beat since NDCG
shipments were off 5.0% in April.
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