27 July 2005, 17:23 U.S. durable goods up for 3rd straight month in June
Led by demand for computers, orders for new U.S.-made durable goods increased 1.4% in June, the third straight strong monthly increase.
The increase was unexpected. Economists were forecasting orders to fall 0.9% in June, according to a poll of economists by MarketWatch.
Adding to the sense of strength, durable orders in May were revised to a 6.4% increase from 5.5% previously estimated. This is the strongest monthly increase since July 2002.
Orders for core capital goods equipment, a key indication of underlying strength in manufacturing, rose 3.8% in June after falling 0.6% in May.
Shipments of durable goods slipped 0.1% in June after three straight monthly increases.
Total durable goods orders were boosted by an 8.6% jump in computer orders, the largest increase since last September.
Orders for communications equipment were also strong, rising 18.3%, the biggest gain this year.
Orders for all transportation equipment fell 1.4% in June after rising 21.5% in May.
Excluding transportation, durable orders rose 2.6%, the largest increase since December 2004.
Excluding defense, orders rose 0.9%.
Inventories of durable goods fell 0.3% in June, the largest decline since November 2003.
Unfilled orders rose 2.6% in June after a 2.1% gain in May.
Orders for electrical equipment decreased 0.1% while shipments increased 0.1%.
Orders for machinery increased 3.7% while shipments fell 0.8%.
Orders for fabricated metals increased 1.0% while shipments rose 0.2%.
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