U.S. Durable-Goods Orders Jump in May on Aircraft Surge, But Core Investment Also Strengthens

New orders for durable goods rose sharply in May, propelled by a surge in aircraft contracts and a broader rebound in business investment.

Orders for long-lasting manufactured goods increased 16.4 percent from the prior month to a seasonally adjusted $343.6 billion, the Commerce Department said Wednesday. Economists surveyed by The Wall Street Journal had expected a 7 percent increase.

Much of the gain came from a 230.8 percent jump in orders for nondefense aircraft, a volatile category that often drives large monthly swings. Still, orders excluding the transportation sector rose 0.5 percent, exceeding expectations for a 0.1 percent decline, a…

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