Financial Briefs

Breaking financial news from Wall Street to Main Street

Durable goods orders drop 4.5 percent in August

Posted by financialbriefs on September 25, 2008

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.

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