WASHINGTON (UPI) — New orders for durable goods climbed higher than expected in June, the U.S. Commerce Department said Thursday.
Durable goods orders jumped 4.2 percent to $244.5 billion in June, coming in well above the consensus forecast that called for a 0.5 percent increase.
It was the third consecutive month in which growth exceeded expectations and the fourth month out of the past five in which fresh orders for factories rose.
In May, new orders rose 5.2 percent.
The U.S. Census Bureau said orders for big-ticket transportation items — ships, trucks, planes and railroad cars — also rose for the fourth month out of the past five, climbing by $9.9 billion or 12.8 percent to $87.1 billion.
Excluding transportation orders, durable goods orders still rose slightly. Without defense included, new orders rose 3 percent, the Bureau said.
Shipments of durable goods, down in two of the past three months, declined slightly after rising by 1.3 percent in May, the monthly report said.
Unfilled orders, also up four of the past five months, rose by 2.1 percent to $1,029.4 trillion.
The Commerce Department revised figures for May. New orders were revised from $485 billion to $488.9 billion. Shipments were revised from $483.6 billion to $484.1 billion. Unfilled orders in May was revised from $1,004.8 billion to $1,008 billion.