Durable Goods Orders Jump by Most in Six Years

Orders for durable goods made in U.S. factories jumped in May by the most in nearly six years as the economic reopening of America sparked demand.

Orders for durable goods, products meant to last at least three years, rose 15.8 percent from a month earlier, the biggest monthly jump since July 2014, according to Commerce Department data released Thursday.

April witnessed a record-breaking 18.1 percent decline.

Economists had forecast a 10 percent increase.

So-called core capital goods orders, a category that excludes aircraft and defense-industry products, increased 2.3 percent. Economists had forecast a 0.6 percent gain. This is considered a proxy for business investment so the better than expected number suggests confidence in the economic recovery.

Transportation orders were up 80 percent, including a 27.5 percent increase in orders for motor vehicles and parts. Orders for aircraft were up after sharp declines in prior months.