US core capital goods orders rebound sharply in May (opens original article in a new tab)

US core capital goods orders rebounded sharply in May, indicating continued business investment driving economic growth, though durable goods orders fell due to a drop in aircraft demand.

• US core capital goods orders increased 1.6% in May after a 0.7% decline in April
• Business spending on equipment showed double-digit growth in Q1 and could drive 3.0% GDP growth in Q2
• Durable goods orders fell 4.5% in May due to a 51.8% drop in non-defence aircraft orders