US durable goods orders fall at faster pace than expected in May
The decrease was attributed to weak overseas demand stemming from a stronger dollar as well as subdued business investment while lower orders in the transportation sector, which plunged 6.4% following a decrease of 4% in April, also helped cause a decrease in May figures.
The report also showed that orders for non-defense aircraft and parts slumped 35.3% while orders for non-defense capital goods edged up 0.4% after falling 0.3% in the previous month. Excluding orders for transportation equipment, the country’s durable goods orders were up 0.5% in May compared with a 0.3% decrease in April, in line with economists’ forecasts. Orders for computers and electronic products also rose 2.2% in May.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PE market stuck between weak fundamentals and up pressure from China
- Firming PP trend falters in China’s local market
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops