Durable Goods Orders Drop 2% in October
New orders for manufactured durable goods in October decreased $4.6 billion or 2% to $230.3 billion, according to the U.S. Census Bureau. This decrease, down following two consecutive monthly increases, followed a 4.1% September increase. Excluding transportation, new orders decreased 0.1%. Excluding defense, new orders decreased 1.3%.
Transportation equipment, also down following two consecutive monthly increases, led the decrease, $4.6 billion or 5.9% to $73 billion. This was led by nondefense aircraft and parts, which decreased $3 billion.
Defense new orders for capital goods in October decreased $1.7 billion or 16.3% to $8.7 billion.
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