Durable Goods Orders Off 0.6% in October

Durable goods orders fell 0.6% in October as orders excluding transportation dropped by the largest amount in seven months, the Commerce Department reported Wednesday.

New orders for durable goods excluding transportation fell 1.3%, the largest drop since March. Orders excluding transportation in September were revised higher to a 1.8% increase from a 0.9% rise, which was initially reported.

Total durable goods orders in September increased 1.6%, double was what initially reported.

Economists expected durable goods orders to rise 0.5% for the month and for orders excluding transportation to rise 0.6%, according to the median estimate provided by Thomson Reuters.

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