U.S. durable goods orders rose 1.9 percent in May, which was more than expected, UPI quoted the Commerce Department as saying Friday. Durable goods orders, which had only risen in two of the previous seven months, were expected to rise 1.6 percent, according to economic forecasts. The surprise increase indicates the manufacturing sector has not fallen as far as feared. Durable goods refers to items expected to last three years. Orders rose, in total, by $3.6 billion to $195.6 billion over April, when orders fell 2.7 percent, Commerce said. Teasing the May figure apart, orders rose 0.6 percent with big ticket transportation items -- planes, trains and ships -- excluded. Exclusive of defense spending, new orders rose 1.9 percent. Inventories among U.S. manufacturers of durable goods rose for the 17th consecutive month, climbing 1.2 percent or $4.1 billion, to $355.4 billion. Inventories in transportation had the largest increase, rising 1.6 percent or $1.7 billion to $107.8 billion, the report said. Shipments, which declined in April, rose 0.3 percent or by $600 million to $194.6 billion, Commerce said.
