Durable Goods Off 8.3%

Washington, DC, November 28, 2006–Led by falling order for new airplanes, demand for U.S.-made durable goods fell 8.3% in October, erasing September’s 8.7% gain, the Commerce Department said Tuesday.

It was the biggest drop in orders for durable goods since July 2000. New orders for civilian aircraft plunged 44.5% last month. Excluding transportation goods, orders fell 1.7%.

Orders for core capital goods fell 5.1% in October, the first decline in six months. The 8.3% decline was much greater than the 4.8% drop expected by economists.