The US April Durable Goods Orders month-on-month (MoM) data came in at 0.7%, which exceeded the forecast of -0.8%. This indicates a positive growth in durable goods orders compared to the previous month. The prior month's figure of 0.8% has also been revised downward from 2.6%.
Durable goods are products with a lifespan of more than three years, such as appliances, vehicles, and machinery. An increase in durable goods orders is generally considered a positive sign for the economy, as it reflect...