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Investing.com - U.S. orders for long lasting manufactured goods fell more than forecast in May, while the core reading bounced back only slightly from a prior decline, dampening optimism over the U.S. economy, according to official data released on Monday.
Total durable goods orders, which include transportation items, decreased by 1.1% last month, the Commerce Department said, compared to economists' expectations for a decline of 0.6%.
April's orders were revised down to show a drop of 0.9% from a previously reported 0.8% decrease.
Durable goods are typically bulky or heavy manufactured products designed to last at least three years.
Core durable goods orders, which exclude volatile transportation items, inched up by 0.1% last month, compared to forecasts for a 0.5% gain.
April's core durable goods orders showed a 0.5% decline.
Durable orders excluding defense fell by 0.6% in May, compared to the prior month's 0.9% decrease.
Durable goods excluding defense and aircrafts dropped by 0.2% in May, compared to expectations for a 0.3% gain.
The previous month registered a 0.2% rise, revised from an initial increase of 0.1%.
After the report, EUR/USD was trading at 1.1207 from around 1.1187 ahead of the publication; GBP/USD was at 1.2747 from 1.2732 earlier; while USD/JPY was at 111.49 from 111.67 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, traded at 96.91 compared to 97.05 prior to the release.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures gained 70 points, or 0.33%, the S&P 500 futures rose 7 points, or 0.27%, while the Nasdaq 100 futures traded up 27 points, or 0.46%.
Elsewhere, in the commodities market, gold futures traded at $1,241.98 a troy ounce, compared to $1,238.02 ahead of the data, while crude oil traded at $43.20 a barrel from $43.12 earlier.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
