New orders for long-lasting US manufactured goods fell unexpectedly in August, dropping by their biggest margin in seven months, following a plunge in commercial aircraft orders, the government reported today.
The Commerce Department said durable goods orders tumbled 2.4 per cent, the largest decline since January, after rising by a revised 4.8 per cent in July. New orders for July were previously reported to have increased 5.1 per cent.
Analysts polled by Reuters forecast orders rising 0.5 per cent in August. Compared with the same period last year, new orders were down 24.9 per cent.
Reuters