U.S. Durable-goods Orders Fall 1.8% In May

Orders for durable U.S. goods fell a seasonally adjusted 1.8% in May, mostly because of less demand for commercial aircraft, the government said Tuesday. Economists polled by MarketWatch has forecast a 1.5% decline. Orders minus transportation, however, increased 0.5% on higher demand for metal parts, heavy machinery and networking equipment, the Commerce Department said. Orders for core capital goods - a proxy for business investment - climbed 0.4% in May but generally remained soft. Business investment was 2.6% lower in the first five months of 2015 compared to the same period in 2014. Shipments of core capital goods, a category used to help determine quarterly economic growth, rose 0.3% in May to mark the third straight gain. Inventories fell for the first time in 23 months.