U.S. durable-goods orders climb for third month in a row but manufacturing slump may not be over

The numbers: Orders for manufactured U.S. goods jumped 1.7% in May and rose for the third month in a row, boosted by strong demand for passenger planes and new autos. Business investment also rose.

Economists... The numbers: Orders for manufactured U.S. goods jumped 1.7% in May and rose for the third month in a row, boosted by strong demand for passenger planes and new autos. Business investment also rose. A key measure of business investment, meanwhile, increased 0.7% and rose for the second straight month.

Higher interest rates have dampened demand for expensive manufactured goods and consumers have shifted more of their spending to services such as travel.

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