US durable goods orders surge in May

0 Comments | AFP, June, 2009

WASHINGTON, June 24, 2009 (AFP) — Orders for US long-lasting manufactured goods surged unexpectedly in May, government data showed Wednesday in a report pointing to stabilization in the sector reeling from the recession.

The Commerce Department said durable goods orders rose a seasonally adjusted 1.8 percent in May from April. Most analysts had projected a decline of 0.9 percent.

The Commerce Department said orders for durable goods, big-ticket items such as household appliances, computers and aircraft, rose in April by a revised 1.8 percent, instead of the 1.9 percent initially estimated.

It was the strongest increase in durable goods orders since December 2007, when the world's largest economy officially entered recession.

"The second large surge in...