Durable Goods Lose Ground in August
By JCK Online Staff -- JCK Online, 10/1/2008 2:00:00 AM
The Commerce Department reported that new orders for manufactured durable goods (i.e., goods meant to last three years or more) fell 4.5 percent in August, to $208.5 billion, a decrease of $9.9 billion. Durable goods include heavy machinery, computers, and transportation equipment.
The durable goods report is one that can fluctuate from month to month, but most economists didn't expect such a drastic decline.
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