Core Durable Goods Orders Soar Most In 4 Years

US durable goods orders plummeted 4.5% MoM in May (as expected), dragging orders down 4.3% YoY – the worst annual decline since Nov 2024…

Source: Bloomberg

However, ex-transports, orders rose 1.4% MoM – up for the 14th straight month – with orders soaring over 10% YoY, the strongest annual surge since May 2022…

Adding more confusion, US factory orders fell 1.3% MoM in May (better than the 2.0% MoM decline expected) but dramatically divergent from the 4.8% MoM surge in April (revised down from +5.3%).

…but factory orders ex-transports rose 1.9% MoM – the seventh straight month of gains – with core orders up 9.5% YoY, the best since Sept 2022…

So, take your pick.