US durable goods orders rally in May

US durable goods orders surged in May, rebounding from a steep 6.6% drop in April — the sharpest decline since January 2024, when orders fell 7.8%.

According to data issued by the US Census Bureau today, June 26, durable goods orders rose 16.4% ($48.3 billion) month-on-month (MoM) to reach $343.6 billion in May. This was in contrast to expectations for an 8.6% increase.

The uptrend was largely driven by transportation equipment, which jumped 48.3%, or $47.4 billion, to $145.4 billion in May.

Excluding transportation, core durable goods orders inched up by 0.5% from April, beating forecasts for a 0.1% hike.