Jeffry Bartash of MarketWatch reports that weak durable goods orders show manufacturers still stuck in the mud. He writes:
Orders for durable goods such as autos and computers barely rose in May and underscored the ongoing weakness in the industrial side of the U.S. economy.
New orders inched up 0.1% in May, the government said Thursday.
Economists polled by The Wall Street Journal had forecast a 1.0% drop in durable-goods orders last month. […]
Manufacturers are unlikely to make a big rebound until the Federal Reserve lowers interest rates and makes its more financially attractive for businesses to invest.
Economists predict companies will boost investment to offset a chronic shortage of labor and to take advantage of new advances in artificial intelligence and other technologies.
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