MW: Durables orders rise for third time in four months
WASHINGTON (MarketWatch) - Better orders for airplanes and machinery translated into a better-than-expected 1.8% increase in durable goods orders in May, the Commerce Department estimated Wednesday. A narrower gauge of business investment marked its best increase in more than four years. It was the third increase in the past four months for durable-goods orders. Despite the recent increases, however, the level of new orders in May was down 5.1% from December. The 1.8% increase followed an identical gain in April. Economists surveyed by MarketWatch were forecasting a 0.5% decline.
