WASHINGTON — Durable goods orders dropped 3.3% in October, the largest decline since January 2009, the Commerce Department reported Wednesday.
Orders excluding transportation goods fell 2.7%. New orders excluding military spending slumped 2.1%.
Economists expected durable goods to be flat for the month with orders excluding transportation rising 0.6%.
Durable goods orders for September were revised higher.
Total goods orders increased 5.0% for the month, up from a 3.3% increase reported last month.
Orders excluding transportation goods increased 1.3%, revised higher from the 0.8% decrease initially reported.
