Big-Ticket Goods Orders, Pending Home Sales Point to Steady Demand

Orders for long-lasting goods and the number of houses going under contract in the U.S. both rose last month, signs that demand is holding up as economic growth slows.

Orders for durable goods rose 0.7% in May, driven by increases in big-ticket items including cars, computers and military aircraft. The pending home sales index, an indicator of home sales based on contract signings, also rose 0.7% on the month to 99.9, the National Association of Realtors said.