According to the U.S. Commerce Department, durable goods orders fell 0.3 percent in May -- the second decline in a row.
New orders in April were revised lower to a 4.7-percent. Despite the two declines, orders for durable goods are up 9.5 percent year-to-date. However, orders are down 3.5 percent since December.
Shipments of durable goods increased 2.6 percent, the largest gain since December. Shipments are up 7.3 percent year-to-date and are at a record level. Manufacturers' inventories increased 0.4 percent.
In May, orders for machinery increased 2.3 percent, while shipments rose 0.3 percent. Orders for computers and electronics (excluding semiconductors) fell 1.1 percent. Orders for electrical goods fell 0.2 percent while shipments rose 1.8 percent.
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