Orders for Big-Ticket U.S. Goods Rose in May [MarketWatch]
Best Buy Co., Inc. (BBY)
Last best buy co., inc. earnings: 2/27 07:00 am
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Source: MarketWatch
New orders for products meant to last at least three years increased to a seasonally adjusted $267.2 billion in May, the Commerce Department said Monday, marking the seventh increase in the last eight months. New orders for nondefense capital goods excluding aircraft, so-called core capital goods and closely watched proxy for business investment, rose 0.5% to $73.5 billion in May compared with the previous month. Nondefense aircraft and parts orders were down 1.1% in May, following a rebound in April from the prior month, while defense-related aircraft orders rose 8.1%. Excluding defense, orders of durable goods rose 0.6%. Economists surveyed by The Wall Street Journal had forecast a 0.2% increase for overall durable goods orders. Figures on manufacturing output in May offer a mixed picture for demand. The Federal Reserve earlier this month said manufacturing output fell in May for the first time this year, pulling overall industrial output down to a slower pace of growth.
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