The incipient recovery in the manufacturing sector stumbled in August, as a big decline in orders for new airplanes pushed total durable goods orders down 2.4%, the largest decline since January, the Commerce Department reported Friday.
The 42% drop in orders for civilian aircraft accounted for most of the 2.4% decline in August. Aircraft orders had soared 98% in July.
Weaker demand wasn't confined to the aircraft sector, however. Excluding the 9.3% drop in transportation orders, orders were flat in August, the weakest showing since April.
Friday, September 25, 2009
Yup, the recession is over....
Posted by traderrob at 6:54 AM