Durable Goods Orders Unexpectedly Fell 2.4% In August

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Orders for goods meant to last for at least three years unexpectedly showed a notable decrease in the month of August, according to a report released by the Commerce Department on Friday, although the drop was largely due to a steep decline in orders for transportation equipment.

The report showed that orders for durable goods fell 2.4 percent in August following a revised 4.8 percent increase in July. The decrease surprised economists, who had expected orders to edge up 0.4 percent compared to the 5.1 percent increase that had been reported for the previous month.

Excluding a 9.3 percent decline in orders for transportation equipment, durable goods orders were nearly unchanged in August compared to a revised 0.9 percent increase in the previous month.

Orders for goods meant to last for at least three years unexpectedly showed a notable decrease in the month of August, according to a report released by the Commerce Department on Friday, although the drop was largely due to a steep decline in orders for transportation equipment. (Market News Provided by RTTNews)