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U.S. markets recover from steep losses
WASHINGTON, June 25 (UPI) -- Durable goods orders increased slightly in the United States in May, the U.S. Commerce Department reported Wednesday.
New orders for manufactured durable goods -- products expected last more than three years -- increased for the first time in three months, rising to $213.6 billion.
New orders in transportation equipment rose 2.6 percent to $57.3 billion. Orders not related to defense aircraft added $1.2 billion to gains in transportation, the report said.
Without transportation adding to the figure, new orders fell by 0.9 percent, the report said.
Shipments of durable goods fell 1.1 percent to $211.3 billion following a 1.8 percent increase in April. Unfilled orders, which have risen for 27 of the past 28 months, increased $7.1 billion or 0.9 percent to $810.2 billion, the highest level since 1992.
Inventories, also reaching the highest level since 1992, increased 0.4 percent to $330.4 billion in May, an increase of $1.4 billion, the report said.
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