News Summary: Orders for US durable goods fall

AP News
Posted: Sep 27, 2012 3:42 PM

ORDERS PLUNGE: Demand for long-lasting manufactured goods plunged 13.2 percent in August because of a huge drop in volatile commercial aircraft orders. It was the biggest decrease since Jan. 2009.

DETAILS A LITTLE BETTER: Excluding transportation, durable goods orders fell only 1.6 percent. And a measure of business investment plans rose 1.1 percent, the first increase since May.

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Kurt Schlichter

OUTLOOK: U.S. manufacturing has weakened since the spring. Factories have been hurt by weaker consumer spending and slower global growth that has cut demand for U.S. exports.