Durable goods orders drop 4.5 percent in August

September 25, 2008 12:00:00 AM PDT
Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply. The Commerce Department says orders for durable goods fell by 4.5 percent last month, far worse than the 1.6 percent decline that economists expected. It was the biggest setback since a 4.7 percent fall in January and came after modest increases in the past three months.

The widespread weakness was led by a 38.1 percent fall in orders for commercial aircraft, the biggest drop in this category in a year. Demand for autos fell by 8.1 percent -- the biggest drop in 19 months -- as automakers struggle with the weak economy and falling demand for once-popular trucks and sport utility vehicles.


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