Wednesday, July 29, 2009

U.S. June durable goods orders down 2.5%

Recovery? Not even close...

WASHINGTON (MarketWatch) - Orders for U.S.-made durable goods sank in June, falling 2.5% on weaker demand for autos, airplanes, and computers, the Commerce Department reported Wednesday. It is the largest drop since January and follows two monthly gains. Excluding the 12.8% decrease in transportation goods, orders rose 1.1%. The decrease far exceeded the expected 0.6% fall forecast by economists surveyed by MarketWatch. Orders in May were revised lower to a gain of 1.3% from the previous estimate of a rise of 1.8%.

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