Durable Goods Orders Drop 2.5%, Most in Five Months
New orders for long-lasting U.S. manufactured goods fell more sharply than expected in June, notching their biggest decline in five months as demand for communications and transportation equipment slumped, a government report showed on Wednesday. The Commerce Department said durable goods orders fell 2.5 percent, the largest drop since January, after rising by a revised 1.3 percent in May, previously reported as a 1.8 percent surge. This was worse than market expectations for a 0.6 percent decline. Orders had advanced for two straight months. New orders excluding transportation unexpectedly rose 1.1 percent in June, after climbing by 0.8 percent in May.
Posted on July 29, 2009
Email
ShareSign up | Sign in
