Friday, September 25, 2009

U.S. durable goods orders tumble 2.4% in August

Yup, the recession is over....
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.

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