Orders for U.S.-made durable goods unexpectedly jumped by 0.7 percent, or $1.9 billion, in May to $267.2 billion, according to the May advance report on durable goods from the U.S. Census Bureau on June 27.
The revised May data showed an increase in demand over April, which saw durable orders increase by 0.4 percent to $265.3 billion.
This is the third consecutive monthly increase, which is now up by 12 percent year over year.
Most analysts and investors had expected that last month’s preliminary data to remain unchanged.
Manufacturing, which accounts for 12 percent of the U.S. economy, is still benefiting from a strong demand for goods, even while consumer spending shifts back to services….