May Durable Goods Surprise, Beat Forecast

New orders for US manufactured durable goods rose more than expected in May, suggesting business investment remains resilient even in the face of deteriorating business and consumer sentiment as well as heightened fears of a recession.

economy Last month’s bookings for durable goods rose 0.7% following a revised 0.4% decline a month earlier, according to the Commerce Department. Figures are not adjusted for inflation

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.